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Definition of 'Golden Parachute'
Lucrative benefits given to top executives in the event that a company is taken over by another firm, resulting in the loss of their job. Benefits include items such as stock options, bonuses, severance pay, etc.
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Investopedia explains 'Golden Parachute'
A golden parachute can be used as a measure to discourage an unwanted takeover attempt.
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In the dramatic world of M&As, battleground terms meld with bizarre metaphors to form the language of the game.
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Learn about this hidden perk and why it's often bad news for investors.
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