The Wall Street Journal this blog is not, but we think we recognize a jerk move in the business world when we see one. Apparently, so does Netflix. The content delivery giant has adopted a “poison pill” defense to prevent a hostile takeover by activist investor Carl Icahn (pictured), just days after he disclosed he had bought a stake in the company. The move indicates a lack of Netflix board approval for Icahn accumulating a stake of 10 percent or more. The measure remains in effect for three years. In a regulatory filing, Icahn said the Netflix move was “an example of poor corporate governance.” Meanwhile Icahn has opened up his wallet again for gaming company Take Two, of which he now owns 9.57%.
Sam Jordan is a writer, editor, comedian, and self-proclaimed sassmaster. You can also find him on Zug.com and Google+.
