Avid Bioservices Inc (CDMO)

[realist1]

Everybody (or almost everybody) knows that the sole purpose of a poison pill is to entrench management/BoD and is NOT for the benefit of shareholders.

http://www.investopedia.com/terms/p/poisonpill.asp?lgl=myfinance-layout

"They were devised as a way to stop bidding takeover companies from directly negotiating a price for the sale of shares with shareholders and instead force bidders to negotiate with the board of directors."

Of course if a BoD was a self serving group that had essentially no equity investment in the company, it would be in their best interest to decline reasonable offers that would not even be made aware to the shareholders.
Hmmmm.....