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The Santos share price has slipped since its AGM in May and the board’s defence against a takeover is likely to face shareholder pressure if oil prices slide. David Mariuz/AAP

What impacts do takeover defences have on shareholders?

Australian companies have been employing many and varied takeover defences this year, including some that defy convention.
Papa John himself resigned from the company after a report said he used a racial slur. Reuters/Danny Moloshok

What is a ‘poison pill’?

Papa John’s is hoping to use the corporate strategy to prevent founder John Schnatter from taking back control over the pizza chain.

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