Allscripts (MDRX) Trys to Protect Against Unwanted Takeovers
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Traders have their eye on Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) Monday after the company adopted a poison bill. The adoption of the rights plan follows the massive sell-off in its stock price since April 26 and subsequent takeover rumors that have surrounded the name since that time.
Shares of Allscripts fell an astonishing 36 percent on April 27 after the company missed Q1 results, lowered FY12 outlook and announced that four directors and the CFO will leave.
While the company said the rights plan was not adopted in response to any current hostile takeover attempt, the company likely believes the vultures are circling.
Shares of Allscripts fell an astonishing 36 percent on April 27 after the company missed Q1 results, lowered FY12 outlook and announced that four directors and the CFO will leave.
While the company said the rights plan was not adopted in response to any current hostile takeover attempt, the company likely believes the vultures are circling.
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