WebMD (WBMD) Adopts Poison Pill
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WebMD Health Corp. (Nasdaq: WBMD) reports its Board of Directors adopted a Stockholder Rights Plan in which preferred stock purchase rights (each, a "Right") will be distributed as a dividend at the rate of one Right per common share to stockholders of record on November 14, 2011.
The Stockholder Rights Plan is designed to guard against inadequate or coercive takeovers and other tactics that might be used in an attempt to gain control of the Company without paying all stockholders a fair price for their shares. The Stockholder Rights Plan will not prevent takeovers, but is designed to deter coercive takeover tactics and to encourage anyone attempting to acquire the Company to first negotiate with the Board.
The Stockholder Rights Plan is designed to guard against inadequate or coercive takeovers and other tactics that might be used in an attempt to gain control of the Company without paying all stockholders a fair price for their shares. The Stockholder Rights Plan will not prevent takeovers, but is designed to deter coercive takeover tactics and to encourage anyone attempting to acquire the Company to first negotiate with the Board.
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