Victoria’s Secret Has a Secret Weapon (and It’s Called a Poison Pill)

In news that has nothing to do with lace or lingerie, Victoria’s Secret has just adopted a poison pill – and no, this one’s not a metaphor for a failed perfume launch. It’s a classic American boardroom manoeuvre: legally sound, routinely controversial.

The trigger? BBRC International, helmed by Australian retail tycoon Brett Blundy, who’s already nabbed around 13% of the company and fancies pushing that figure up to just under 50%. In response, Victoria’s Secret’s board has declared: not so fast, mate.