Starz has adopted a limited-duration shareholder rights plan, commonly referred to as a “poison pill,” in an effort to reduce the likelihood that a person or group can gain control of the company’s shares without appropriately compensating shareholders for that control.
Under the terms of the plan, which is typically designed to defend against hostile takeovers, Starz will issue one right for each outstanding common share. For shares issued and outstanding as of March 20, the rights will be paid to shareholders through a dividend.
The rights will become exercisable if a person or group acquires 17.5% or more of Starz’s outstanding shares. Anyone who currently owns more than the…
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.imdb.com ’
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