The poison pill would flood the market with new Paramount stock in the face of a hostile offer.
But his hostile offer for Mannesmann was rejected by the company's supervisory board.
ThyssenKrupp itself is a result of a hostile offer.
Oracle says the program could force it to withdraw its $7.3 billion hostile offer.
Time and Warner are known to have made elaborate plans for the possibility of a hostile offer.
"The first time a company listed on New York and had a hostile offer the same day."
The two also had agreements with Sprint that said they could not make a hostile offer for the company.
That decline, in turn, emboldened Hilton to begin its hostile offer.
That, in turn, made the company vulnerable to a hostile offer.
Several analysts had suggested that Champion might be the next paper company to receive a hostile offer.