Content about Poison pill

August 22, 2012

The Wet Seal said it has hired financial advisors and adopted a poison pill that discourages an investor from acquiring 10% of the company.

Foothill Ranch, Calif. -- The Wet Seal said it has hired financial advisors and adopted a poison pill that discourages an investor from acquiring 10% of the company.

The move comes as Clinton Group, an investor with a 3.9% stake in the chain, has been putting pressure on the company to put itself on the block.

“We took this action to ensure the board has sufficient time to consider any option,” said Wet Seal chairman Harold Kahn.

July 6, 2012

Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders.

Minneapolis -- Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders. The private equity firm owns 4% of Christopher & Banks shares. The retailer also adopted a stockholder rights plan, or poison pill, with a trigger at 15%

Private equity firm Aria owns 4% of Christopher & Banks shares.

August 2, 2011

The Talbots said on Tuesday that its board of directors has adopted a shareholder rights plan -- or a poison pill -- to protect its stockholders after a private equity firm disclosed it had acquired a sizeable stake in the company.

New York City -- The Talbots said on Tuesday that its board of directors has adopted a shareholder rights plan -- or a poison pill -- to protect its stockholders after a private equity firm disclosed it had acquired a sizeable stake in the company.

On Monday, Sycamore Partners LP revealed it had acquired a 9.9% stake in Talbots and said it planned to attempt to talk with the retailer about strategy and operations.

Reports put Talbots’ market value at $288 million, and suggest a buyout would exceed $400 million.

March 4, 2011

The Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes & Noble after he doubled his stake in the company.

Dover, Del. -- The Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes & Noble after he doubled his stake in the company.

After hearing arguments Wednesday, the court on Thursday affirmed a judge's ruling last year upholding the poison pill plan, which limited a shareholder's stake in the company to 20%.

March 3, 2011

Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company."

Matthews, N.C. -- Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company." In February, Nelson Peltz's Trian Fund offered $55 to $60 per share, or about $6.99 billion, for Family Dollar.

The chain said it also adopted a shareholder rights plan, commonly called a "poison pill," that would significantly dilute shares if a takeover attempt proceeds.

November 17, 2010

Barnes & Noble's shareholders on Wednesday ratified a shareholder rights plan that prevents an outside investor from acquiring 20% or more of the company's shares without board approval.

New York City -- Barnes & Noble's shareholders on Wednesday ratified a shareholder rights plan that prevents an outside investor from acquiring 20% or more of the company's shares without board approval. 

Preliminary results show 72% of shareholders voted in favor of the plan at a special shareholder meeting in New York. The plan limits shareholder stakes to 20%, finally making the so-called "poison pill" official.

October 20, 2010

A report released Thursday by the Financial Times said that Diego Della Valle, the Italian...

October 19, 2010

Leonard Riggio, the chairman of bookseller Barnes & Noble, said he won't form a group...

October 18, 2010

J.C. Penney adopted a shareholder rights plan

Plano, Texas -- J.C. Penney said Monday that it has adopted a shareholder rights plan, or so-called poison pill, in light of "recent rapid accumulations of a significant percentage of the company's outstanding common stock." The plan has a term of one year. The rights have a 10% trigger.

The news follows the announcement that activist investor Bill Ackman's Pershing Square Capital Management and real estate firm Vornado Realty Trust recently disclosed a 16.5% and 9.9% stake each in the retailer.

October 17, 2010

J.C. Penney said Monday that it has adopted a shareholder rights plan, or so-called poison...

September 19, 2010

Proxy-advisory firm Institutional Shareholders Services (ISS) said it has recommended that Barnes & Noble shareholders...

September 1, 2010

Billionaire investor Ron Burkle’s Yucaipa Cos. plans to appeal a Delaware court ruling that upheld...

August 12, 2010

The battle to control Barnes & Noble is officially on....

August 11, 2010

Barnes & Noble said Thursday it has not reached a settlement with billionaire investor Ron...

August 3, 2010

Barnes & Noble said it is exploring strategic alternatives, including putting itself up for sale....

July 21, 2010

An attorney for billionaire Ron Burkle said a poison pill plan adopted by Barnes &...

July 12, 2010

Barnes & Noble board member Michael Del Giudice suggested in his testimony Tuesday that shareholders...

July 11, 2010

The chairman of Barnes & Noble Inc., Leonard Riggio, testified Friday that the poison pill...

May 5, 2010

Los Angeles billionaire and business mogul Ron Burkle's Yucaipa Cos. has filed a complaint in...