A critical assessment of the role of directors in relation to takeovers of public companies

The essay explores the complex role of target directors during corporate takeovers, highlighting their dual responsibilities. Directors must actively engage in responding to takeover bids and advising shareholders, while simultaneously navigating potential conflicts of interest that can arise from the significant personal and professional stakes involved in such transactions. The analysis emphasizes the tension between their obligations to shareholders and the implications of their decisions on their own careers and reputations.