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Shareholder-approved rights plans meant to prevent creeping takeovers are likely not impacted by this decision.
That law explicitly authorizes Virginia corporations to create shareholder rights plans.
Patients' rights plans offered by the two parties would expand treatments that health plans must offer.
The widespread presence of certain governance features, such as staggered boards, plurality voting and shareholder rights plans (poison pills), made it easier for companies to do so.
The EPSC applies to proposals for the approval of stock option plans, restricted stock plans, omnibus stock plans and stock-settled stock appreciation rights plans.
The pills, known formally as shareholder rights plans, threaten dire consequences to shareholders who acquire too many shares without the consent of the board.
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"Rights plan" may sound innocuous.
The rights plan will expire on Nov. 2, 2015.
In addition, the Rights Plan is not absolute.
The rights plan has to be ratified by shareholders in a year's time.
The rejection included the adoption of a shareholder rights plan to try to stymie his effort.
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