Del adopts shareholder rights plan

Imaging vendor Del Global Technologies has adopted a shareholder rights plan aimed at protecting and maximizing shareholder interests in the event of an unsolicited acquisition attempt.

The Valhalla, NY-based firm's board of directors declared a dividend distribution of one purchase right for each outstanding share of common stock, payable to shareholders at the close of business on September 17. If a person or group acquires 20% or more of Del's outstanding shares or total voting power, holders of the rights (other than the acquiring person or group) would be entitled to purchase common stock at approximately half of its market value at that time, according to the vendor.

By staff writers
September 17, 2001

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Copyright © 2001

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