{"id":30004,"date":"2023-12-07T08:52:00","date_gmt":"2023-12-07T08:52:00","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chien-thuat-dat-thuoc-doc-poison-put-trong-thuong-vu-thau-tom-la-gi-dac-diem-loi-ich-va-vi-du.html"},"modified":"2023-12-23T06:11:24","modified_gmt":"2023-12-22T23:11:24","slug":"chien-thuat-dat-thuoc-doc-poison-put-trong-thuong-vu-thau-tom-la-gi-dac-diem-loi-ich-va-vi-du","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chien-thuat-dat-thuoc-doc-poison-put-trong-thuong-vu-thau-tom-la-gi-dac-diem-loi-ich-va-vi-du.html","title":{"rendered":"Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c (Poison Put) trong th\u01b0\u01a1ng v\u1ee5 th\u00e2u t\u00f3m l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m, l\u1ee3i \u00edch v\u00e0 v\u00ed d\u1ee5"},"content":{"rendered":"
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<\/div>
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(\u1ea2nh minh h\u1ecda: Hello Humans)<\/p>\n<\/figcaption><\/figure>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c<\/b>\u00a0trong ti\u1ebfng Anh l\u00e0\u00a0Poison Put.<\/b><\/p>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c<\/b> l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c ch\u1ed1ng l\u1ea1i vi\u1ec7c th\u00e2u t\u00f3m, trong \u0111\u00f3 c\u00f4ng ty m\u1ee5c ti\u00eau ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 nh\u1eadn ti\u1ec1n tr\u01b0\u1edbc ng\u00e0y \u0111\u00e1o h\u1ea1n.<\/p>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c l\u00e0 m\u1ed9t trong nh\u1eefng lo\u1ea1i bi\u1ec7n ph\u00e1p ch\u1ed1ng l\u1ea1i chi\u1ebfn thu\u1eadt th\u00e2u t\u00f3m b\u1eb1ng vi\u00ean thu\u1ed1c \u0111\u1ed9c\u00a0(Poison pill), \u0111\u01b0\u1ee3c t\u1ea1o ra \u0111\u1ec3 t\u0103ng chi ph\u00ed m\u00e0 c\u00f4ng ty th\u00e2u t\u00f3m\u00a0s\u1ebd ph\u1ea3i ch\u1ecbu \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c m\u1ed9t\u00a0c\u00f4ng ty m\u1ee5c ti\u00eau.<\/p>\n

Ho\u1ea1t \u0111\u1ed9ng c\u1ee7a\u00a0<\/font><\/b>Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c<\/font><\/h3>\n

Gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng nhi\u1ec1u chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c nhau \u0111\u1ec3 b\u1ea3o v\u1ec7 c\u00f4ng ty c\u1ee7a h\u1ecd kh\u1ecfi vi\u1ec7c b\u1ecb mua th\u00f4n t\u00ednh th\u00f9 \u0111\u1ecbch.<\/p>\n

Chi\u1ebfn thu\u1eadt vi\u00ean thu\u1ed1c \u0111\u1ed9c l\u00e0 m\u1ed9t trong nh\u1eefng chi\u1ebfn l\u01b0\u1ee3c nh\u01b0 v\u1eady v\u00e0 \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u1ec3 l\u00e0m cho vi\u1ec7c mua l\u1ea1i c\u1ee7a c\u00f4ng ty th\u00e2u t\u00f3m th\u00f4ng qua\u00a0mua th\u00f4n t\u00ednh\u00a0th\u00f9 \u0111\u1ecbch \u0111\u1eaft ti\u1ec1n v\u00e0 \u00edt c\u00f3 kh\u1ea3 n\u0103ng x\u1ea3y ra h\u01a1n.<\/p>\n

Ki\u1ec3u ch\u1ed1ng \u0111\u1ed1i vi\u1ec7c th\u00e2u t\u00f3m n\u00e0y l\u00e0 h\u1ee3p ph\u00e1p, m\u1eb7c d\u00f9 c\u00e1c gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh c\u1ee7a c\u00f4ng ty v\u1eabn c\u00f3 ngh\u0129a v\u1ee5 h\u00e0nh \u0111\u1ed9ng v\u00ec l\u1ee3i \u00edch cao nh\u1ea5t c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng.<\/p>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c\u00a0<\/b>l\u00e0 m\u1ed9t d\u1ea1ng c\u1ee7a h\u00e0nh \u0111\u1ed9ng vi\u00ean thu\u1ed1c \u0111\u1ed9c, trong \u0111\u00f3 c\u00e1c tr\u00e1i ch\u1ee7 \u0111\u01b0\u1ee3c cung c\u1ea5p c\u00e1c t\u00f9y ch\u1ecdn nh\u1eadn ti\u1ec1n ho\u00e0n tr\u1ea3 trong tr\u01b0\u1eddng h\u1ee3p x\u1ea3y ra s\u1ef1 th\u00e2u t\u00f3m th\u00f9 \u0111\u1ecbch\u00a0di\u1ec5n ra tr\u01b0\u1edbc ng\u00e0y \u0111\u00e1o h\u1ea1n tr\u00e1i phi\u1ebfu.<\/p>\n

Quy\u1ec1n tr\u1ea3 n\u1ee3 s\u1edbm \u0111\u01b0\u1ee3c vi\u1ebft trong giao \u01b0\u1edbc tr\u00e1i phi\u1ebfu, v\u1edbi vi\u1ec7c th\u00e2u t\u00f3m \u0111\u1ea1i di\u1ec7n cho s\u1ef1 ki\u1ec7n k\u00edch ho\u1ea1t nh\u1eadn ti\u1ec1n ho\u00e0n tr\u1ea3.<\/p>\n

L\u1ee3i \u00edch c\u1ee7a\u00a0<\/font>Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c<\/font><\/h3>\n

Trong qu\u00e1 tr\u00ecnh th\u00e2u t\u00f3m mang t\u00ednh th\u00f9 \u0111\u1ecbch, c\u00f4ng ty th\u00e2u t\u00f3m, th\u01b0\u1eddng l\u00e0 c\u00f4ng ty \u0111\u1ed1i th\u1ee7 ho\u1eb7c c\u00f4ng ty \u0111\u1ea7u t\u01b0 mang t\u00ednh ch\u00ednh tr\u1ecb, c\u1ed1 g\u1eafng ki\u1ec3m so\u00e1t m\u1ed9t c\u00f4ng ty \u0111\u1ea1i ch\u00fang m\u00e0 kh\u00f4ng c\u1ea7n s\u1ef1 ch\u1ea5p thu\u1eadn c\u1ee7a ban gi\u00e1m \u0111\u1ed1c c\u00f4ng ty.<\/p>\n

H\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y s\u1ebd c\u00f3 m\u1ed9t s\u1ed1 chi\u1ebfn l\u01b0\u1ee3c nh\u1ea5t \u0111\u1ecbnh, ban h\u00e0nh \u0111\u1ec3 c\u1ea3n tr\u1edf c\u00f4ng ty th\u00e2u t\u00f3m.<\/p>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c<\/b> c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c hi\u1ec7u qu\u1ea3 cho c\u00f4ng ty m\u1ee5c ti\u00eau, v\u00ec \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 c\u00f4ng ty th\u00e2u t\u00f3m s\u1ebd ph\u1ea3i chi nhi\u1ec1u ti\u1ec1n h\u01a1n \u0111\u1ec3 ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c c\u00f4ng ty.<\/p>\n

Do \u0111\u00f3, c\u00e1c c\u00f4ng ty \u0111ang mu\u1ed1n ho\u00e0n th\u00e0nh vi\u1ec7c th\u00e2u t\u00f3m th\u00f9 \u0111\u1ecbch th\u00ec ph\u1ea3i c\u00e2n b\u1eb1ng chi ph\u00ed \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c quy\u1ec1n l\u1ee3i ki\u1ec3m so\u00e1t c\u00f4ng ty m\u1ee5c ti\u00eau v\u1edbi c\u00e1c chi ph\u00ed th\u00e2u t\u00f3m kh\u00e1c.<\/p>\n

Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c kh\u00e1c v\u1edbi c\u00e1c h\u00ecnh th\u1ee9c ch\u1ed1ng l\u1ea1i th\u00e2u t\u00f3m poison pill \u1edf ch\u1ed7 n\u00f3 kh\u00f4ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng, gi\u00e1 c\u1ed5 phi\u1ebfu v\u00e0 quy\u1ec1n bi\u1ec3u quy\u1ebft cho c\u00e1c c\u1ed5 \u0111\u00f4ng.<\/p>\n

Thay v\u00e0o \u0111\u00f3, n\u00f3 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn l\u01b0\u1ee3ng ti\u1ec1n m\u1eb7t m\u00e0 m\u1ed9t c\u00f4ng ty mua l\u1ea1i c\u00f3 trong tay b\u1eb1ng c\u00e1ch chuy\u1ec3n c\u00e1c ngh\u0129a v\u1ee5 thanh to\u00e1n tr\u00e1i phi\u1ebfu trong t\u01b0\u01a1ng lai sang ng\u00e0y x\u1ea3y ra v\u1ee5 th\u00e2u t\u00f3m th\u00f9 \u0111\u1ecbch.<\/p>\n

C\u00f4ng ty th\u00e2u t\u00f3m ph\u1ea3i ch\u1eafc ch\u1eafn c\u00f3 \u0111\u1ee7 ti\u1ec1n m\u1eb7t \u0111\u1ec3 tr\u1ea3 ngay l\u1eadp t\u1ee9c cho vi\u1ec7c thanh to\u00e1n n\u1ee3 tr\u00e1i phi\u1ebfu.<\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c c\u00f3 th\u1ec3 kh\u00f4ng hi\u1ec7u qu\u1ea3 \u0111\u1ed1i v\u1edbi m\u1ed9t c\u00f4ng ty m\u1ee5c ti\u00eau \u0111\u00e3 c\u00f3 s\u1ed1 n\u1ee3 \u0111\u00e1ng k\u1ec3, v\u00ec chi\u1ebfn l\u01b0\u1ee3c n\u00e0y l\u00e0m t\u0103ng n\u1ee3 c\u1ee7a c\u00f4ng ty v\u00e0 c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn m\u1ea5t kh\u1ea3 n\u0103ng thanh to\u00e1n.<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c
<\/font><\/h3>\n

H\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb c\u1ee7a m\u1ed9t c\u00f4ng ty tin r\u1eb1ng \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh l\u1edbn h\u01a1n c\u00f3 th\u1ec3 c\u1ed1 g\u1eafng th\u00e2u t\u00f3m c\u00f4ng ty trong t\u01b0\u01a1ng lai.<\/p>\n

\u0110\u1ec3 ch\u1ed1ng l\u1ea1i th\u00e2u t\u00f3m, c\u00f4ng ty ph\u1ea3i ch\u1ecbu kho\u1ea3n n\u1ee3 m\u1edbi b\u1eb1ng c\u00e1ch ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p. Khi ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu m\u1edbi, h\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb s\u1ebd c\u00f3 m\u1ed9t giao \u01b0\u1edbc v\u1ec1 chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c,<\/b> l\u00e0 m\u1ed9t \u0111i\u1ec1u kho\u1ea3n qui \u0111\u1ecbnh c\u00e1c tr\u00e1i ch\u1ee7 c\u00f3 th\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c kho\u1ea3n thanh to\u00e1n n\u1ee3 s\u1edbm n\u1ebfu x\u1ea3y ra th\u00e2u t\u00f3m mang t\u00ednh th\u00f9 \u0111\u1ecbch.<\/p>\n

T\u1ed5ng gi\u00e1 tr\u1ecb c\u1ee7a tr\u00e1i phi\u1ebfu l\u00e0 50 tri\u1ec7u USD. \u0110\u1ec3 th\u00e2u t\u00f3m \u0111\u01b0\u1ee3c th\u00e0nh c\u00f4ng, c\u00f4ng ty th\u00e2u t\u00f3m n\u00e0y kh\u00f4ng ch\u1ec9 c\u00f3 kh\u1ea3 n\u0103ng mua quy\u1ec1n ki\u1ec3m so\u00e1t c\u1ed5 phi\u1ebfu m\u00e0 c\u00f2n ph\u1ea3i c\u00f3 kh\u1ea3 n\u0103ng ho\u00e0n tr\u1ea3 ngay l\u1eadp t\u1ee9c 50 tri\u1ec7u USD cho c\u00e1c tr\u00e1i ch\u1ee7.<\/p>\n

N\u1ebfu c\u00f4ng ty th\u00e2u t\u00f3m kh\u00f4ng c\u00f3 ti\u1ec1n \u0111\u1ec3 tr\u1ea3 chi ph\u00ed th\u00e2u t\u00f3m ph\u00e1t sinh n\u00e0y, h\u1ecd c\u00f3 th\u1ec3 c\u1ea7n ph\u1ea3i r\u00fat l\u1ea1i \u00fd \u0111\u1ecbnh th\u00e2u t\u00f3m th\u00f9 \u0111\u1ecbch n\u00e0y, \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c c\u00f3 hi\u1ec7u qu\u1ea3 \u0111\u1ed1i v\u1edbi c\u00f4ng ty m\u1ee5c ti\u00eau.<\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Chi\u1ebfn thu\u1eadt \u0111\u1eb7t thu\u1ed1c \u0111\u1ed9c (ti\u1ebfng Anh: Poison Put) l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c ch\u1ed1ng l\u1ea1i vi\u1ec7c th\u00e2u t\u00f3m, trong \u0111\u00f3 c\u00f4ng ty m\u1ee5c ti\u00eau ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c ti\u1ec1n tr\u01b0\u1edbc ng\u00e0y \u0111\u00e1o h\u1ea1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30004"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30004"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30004\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}