One would allow Irving shareholders to acquire the stock of a hostile suitor at half price.

Mr. Esser is currently in the middle of a two-week roadshow, trying to drum up support from investors against his hostile suitor.

But if a court forces a company to redeem its poison pill, thereby rendering it harmless, a hostile suitor is free to go ahead with its offer.

The bank also said it had spent $:65 million, or $104 million, defending itself against its hostile suitors in its failed effort to remain independent.

The plan was enacted in July by Polaroid, based in Cambridge, Mass., apparently to help fend off hostile suitors.

Under Delaware law, a hostile suitor must acquire 85 percent of the company's stock.

Under an Ohio law, which Northrop is seeking to overturn, a hostile suitor cannot buy more than 20 percent of its target without approval from shareholders.

Rescue Penelope from hostile suitors.

Cooper was either a friendly acquirer of companies under siege from hostile suitors or high bidder for companies on the auction block.

Analysts interpreted the stock sale as an effort by Champion to dissuade any possible hostile suitors.