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Technology / AI and automation

LOTUS DEVELOPMENT ADOPTS A COMPLEX POISON PILL

These days, when you adopt an anti-takeover measure, it is little more than a signal to the host of corporate raiders on Wall Street – whose funds seem to outvalue the available targets by a wide margin – that you are vulnerable to a bid, and ready to go at the right price – so has management at embattled Lotus Development Corp had enough? It has adopted a complex poison pill that involves distribution of one right per share to buy 0.01 of a preferred share, each 0.01 worth one share in the event a raider buys 20% of Lotus, entitling the holder to buy shares in the raider.

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CBR Staff Writer

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