A typical poison pill may give existing shareholders the right to buy the company's shares at half price as soon as a bidder acquires more than 15% of the shares.The bidder is not entitled to the discount.

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This is a common provision in a poison pill. It allows existing shareholders to purchase shares at a discounted price if a bidder acquires a significant portion of the shares. The purpose is to make the acquisition less appealing to the bidder and to give existing shareholders a greater stake in the company. The bidder is typically not entitled to the discount.

A Typical Poison Pill May Give Existing Shareholders the Right