Barnes & Noble Education adopts a "poison pill" stockholder rights plan to deter hostile takeovers.
Barnes & Noble Education (BNED) adopts a short-term stockholder rights plan (also known as "poison pill") to protect against potential hostile takeovers. The plan will trigger if a person or group acquires 10% or more of the company's outstanding common stock, and each right allows stockholders to buy one one-thousandth of a new series of junior participating preferred stock at $5.00 per share. This move aims to maintain stability and protect shareholders' interests.
April 16, 2024
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