Making it clear that if it does get into bed with somebody, it wants it to be on its own terms, Cray Research Inc has declared a dividend distribution of one common share purchase right on each of its outstanding common shares, each right entitling shareholders to buy one share of Cray’s common at an exercise price of $250, to become active following the tenth day after a person or group announces acquisition of 20% or more of Cray’s common stock or announces start of a tender offer that would result in a 20% or greater stake.
