02
Apr
13:26
Synalloy uses shareholder rights plan to prevent takeover
US specialty tube producer Synalloy has introduced a new shareholder rights plan to defend against hostile takeover attempts, Kallanish reports.
At its heart, the plan consists of a window stretching from 10 April to 31 March, 2021, whereby shareholders will be able to purchase stock at a discount if another party independently buys more than 15% of the company’s common stock.
The limited duration shareholder rights plan is partially in response…
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