10 Oct 2000dividend declaration● Neutral
On October 5, 2000 the board adopted a shareholder rights agreement (a 'poison pill'): each common share gets one right that becomes exercisable if a person or group acquires 15% or more of the stock or launches a tender offer for 15% or more. Holders other than the acquirer could then buy common stock worth twice the $26.00 per one-thousandth preferred share purchase price. The rights expire October 5, 2010 unless redeemed earlier at $0.001 per right. The board also amended the bylaws on advance notice of shareholder proposals, special meetings, written consents and director nominations.