This is a variation of the poison pill defense.
Investment dictionary. Academic. 2012.
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People pill — As a variation of the poison pill defense, the people pill is an anti takeover defense under which the current management team of the target company threatens to quit en masse in the event of a successful hostile takeover. The effectiveness of a… … Wikipedia
people pill — A form of poison pill providing that the entire management threatens to resign in the event of a takeover. Bloomberg Financial Dictionary … Financial and business terms
people pill — Anti takeover tactic where managers all threaten to leave if the company is purchased by outsiders … American business jargon
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