Three procedures used to defend against hostile takeovers are borrowing funds on terms that would require immediate repayment of all funds if the firm is acquired,selling off valuable assets,and granting huge "golden parachutes" that open if the firm is acquired.These strategies are known as "poison pills."

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The statement accurately describes the use of poison pills as a defense mechanism against hostile takeovers, including borrowing on strict repayment terms, selling valuable assets, and granting large severance packages.

Three Procedures Used to Defend Against Hostile Takeovers Are Borrowing