The two defenses against takeovers known as the crown jewel defense and the poison pills have the following in common:

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Both defenses seek to reduce the target firm's attractiveness to the bidder. The crown jewel defense involves selling off a company's most valuable assets to make it less appealing, while poison pills are measures taken by a company's management to make it very difficult for a bidder to successfully acquire the majority of the company's shares. Neither option involves repurchasing stock, advertisements or mailings, or asking the bidder to sell their shares to the target firm.

The Two Defenses Against Takeovers Known as the Crown Jewel