Sylvamo (SLVM) Adopts Shareholder Rights Plan
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Sylvamo Adopts Shareholder Rights Plan
April 22, 2022 8:00 AM EDTBoard of Directors Takes Action to Protect Long-Term Value for All Shareholders in Response to Significant Third-Party Share Accumulation
MEMPHIS, Tenn.--(BUSINESS WIRE)-- Sylvamo's (NYSE: SLVM) board of directors unanimously adopted a limited-duration shareholder rights plan to protect the interests of all shareholders. The rights plan is effective immediately.
The board adopted the plan after Atlas Holdings confirmed it entered into a block trade that would give Atlas nearly 14% of Sylvamo's outstanding shares and informed Sylvamo it also holds an unspecified amount of derivatives on Sylvamo shares.... More
