All of the Following Are True of Poison Pills Except

Multiple Choice

All of the following are true of poison pills except for

A) They are a new class of security
B) Generally prevent takeover attempts from being successful
C) Enable target shareholders to buy additional shares in the new company if an unwanted shareholder's ownership exceeds a specific percentage of the target's stock
D) Delays the completion of a takeover attempt
E) May be removed by the target's board if an attractive bid is received from a so-called "white knight."