Chilled to the Pill: The Japanese Judiciary’s Cool Reception of the Poison Pill and Potential Repercussions

Authors

  • Douglas G. Gruener

DOI:

https://doi.org/10.5195/lawreview.2006.56

Abstract

While the 1990s is frequently referred to as Japan’s “lost decade” because of the nation’s economic underperformance and weak structures for corporate governance, the past few years have shown a business environment that is in the midst of significant transition. Most importantly, Japan is experiencing a boom in mergers and acquisitions (M&A), with the first half of 2005 alone accounting for an aggregate value of $108.9 billion in Japanese M&A transactions (greater than the $108.5 billion of deal value accumulated in all of 2004). Among the major factors contributing to this trend are the improved cash positions of many companies, a record level of foreign share ownership that has helped strengthen shareholder activism, and, perhaps most significantly, the gradual unwinding of stable cross-shareholding relationships that were previously a staple of Japanese corporate strategy and stability.

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Published

2006-04-26

How to Cite

Gruener, Douglas G. 2006. “Chilled to the Pill: The Japanese Judiciary’s Cool Reception of the Poison Pill and Potential Repercussions”. University of Pittsburgh Law Review 67 (4). https://doi.org/10.5195/lawreview.2006.56.

Issue

Vol. 67 No. 4 (2006)

Section

Notes

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