All of the following statements are true about the use of defense tactics by the target firm during a hostile takeover excepta. defense tactics are usually beneficial for the executives of the target firm. b. defense tactics are opposed by institutional investors. c. defense tactics vary in their effectiveness as a defense to takeovers. d. defense tactics make the costs of a takeover lower.

d. defense tactics make the costs of a takeover lower.

Explanation:

There's a take over attempt when a company is faced with a hostile takeover attempt.

Defense can be either pre offer takeover or post offer takeover.

In pre offer takeover defense, companies put mechanisms in place to discourage takeover attempts.

Pre takeover defense mechanisms include:

1. Golden parachute: this benefits the managers of a company. It is an agreement where managers are compensated lucratively if they leave the company being targeted for a takeover when there's a change in corporate control.

2. Fair price amendments: this sets a bidding value floor for a target company. This makes the company more expensive

3. Staggered board : this is when its impossible to change all the members of boards of a company.

4. Poison pill

5. Poison put

Post take over defense mechanism usually are put in place after a takeover attempt. They include:

1. White knight defesne : The takeover firm invites another company to purchase it in place of the firm planning an hostile takeover. This can lead to bidding and counter bidding by the third firm and the firm planning the hostile take over. This can eventually leads to winners curse. This usually increases the cost of takeovers

2. Litigation

Not all take over defense tactics are usually effective. Generally, preoffer take over tactics are usually recommended.

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