Your friend has read an article in the business press

Your friend has read an article in the business press and is confused. The article reads in part as follows:
Fashion Accessories Ltd. today took a poison pill by putting its three-year-old factory in East Harbour up for sale. In addition, golden parachutes have been arranged for the chief executive officer and the chair of the board of directors that require the firm to continue paying them for two years after dismissal in the event of a corporate takeover of Fashion Accessories. They will also each receive a $2 million bonus in the event of a takeover. The board is considering a Pac-man defence in addition to searching for a white knight.
Required:
Explain to your friend the meaning of this business story by translating all of the jargon used in the newspaper.