Talbots (TLB) Board Adopts 'Poison Pill'
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The Talbots, Inc. (NYSE: TLB) has adopted a stockholder rights plan in which one common stock purchase right will be distributed as a dividend on each outstanding share of the Company’s common stock.
Detail from the release: "Under the Rights Plan, the Rights become exercisable if any person or group acquires 10 percent or more of Talbots common stock or, in the case of any person or group that currently owns 10 percent or more of the common stock, upon the acquisition of a specified additional amount of shares by such person or group. Until the Rights become exercisable, they will not be evidenced by separate certificates and will trade automatically with shares of the Company’s common stock. The Rights will expire on August 1, 2021."
Detail from the release: "Under the Rights Plan, the Rights become exercisable if any person or group acquires 10 percent or more of Talbots common stock or, in the case of any person or group that currently owns 10 percent or more of the common stock, upon the acquisition of a specified additional amount of shares by such person or group. Until the Rights become exercisable, they will not be evidenced by separate certificates and will trade automatically with shares of the Company’s common stock. The Rights will expire on August 1, 2021."
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