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Definition of 'Jonestown Defense'
A defensive strategy by which the target company engages in an activity that might actually ruin the company rather than prevent the hostile takeover. Also known as a "suicide pill."
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Investopedia explains 'Jonestown Defense'
The term refers to the 1978 Jonestown massacre, where a religious cult (the People's Temple) led by Jim Jones committed mass suicide in Guyana.
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