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Blank cheque preferred stock

(USA) Authorised preferred stock, the terms of which are left open under the company's organisational documents, allowing the board of directors to fix the terms without stockholder approval. Blank cheque preferred stock may be used as an anti-takeover device. See 'Anti-Takeover Provisions', 'Poison Pill', 'Shark Repellent' and 'Staggered Board of Directors'.

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