A lower price helps BP for both negotiating partnership or friendly buy outs...I am not thinking a hostile take over but a lower price would help that also.... and while the poison pill would help ward off a Hostile Take over, it still could happen easier than you think ... If they own 30% of votes before the PP, then after the rights offering from PP, they would still own 30% and that may put them in position to have a reasonable chance to take over...A PP only helps if the hostile target is an outsider...