(Reuters) - TOKYO, June 24 - Shareholders of Japan's Bull-Dog
Sauce approved a "poison pill" scheme that will allow
the sauce maker to issue new shares aimed at thwarting a $260
million takeover attempt by U.S. hedge fund Steel Partners.
If enacted, it would be the first time in Japan that a
company has used an anti-takeover defence to dilute a would-be
acquirer's stake, setting a precedent for the hundreds of other
firms building up similar defences, commonly called poison
pills.
Read more at Reuters.com Mergers News
Sauce approved a "poison pill" scheme that will allow
the sauce maker to issue new shares aimed at thwarting a $260
million takeover attempt by U.S. hedge fund Steel Partners.
If enacted, it would be the first time in Japan that a
company has used an anti-takeover defence to dilute a would-be
acquirer's stake, setting a precedent for the hundreds of other
firms building up similar defences, commonly called poison
pills.
Read more at Reuters.com Mergers News
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