A ________ is a defensive strategy built into the target corporation's articles of incorporation, corporate bylaws, or contracts and leases that can be adopted to defeat a tender offer.

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A poison pill is a defensive strategy that makes the target company's stock less attractive to the bidder. The poison pill could be implemented through several methods like rights issue or flip-in, flip-over rights. It is designed to discourage a takeover attempt by making the target's stock less attractive to the acquirer. Greenmail agreement involves payment to the hostile bidder by the target company to eliminate their stake. Reverse tender offer is a defensive measure by the target company where they buy back their shares at a premium price. A white knight merger involves seeking out a friendly acquirer to counter the hostile bid. However, it is not built into the corporation's bylaws or contracts.

A ________ Is a Defensive Strategy Built into the Target