Equipment Type

Navistar Adopts Poison Pill Plan

Navistar’s board of directors adopted a “stockholders rights plan,” often called a “poison pill,” to prevent a hostile takeover.
June 20, 2012
Navistar’s board of directors adopted a “stockholders rights plan,” often called a “poison pill,” to prevent a hostile takeover.
 
“The Plan is designed to deter coercive takeover tactics including the accumulation of shares in the open market or through private transactions and to prevent an acquiror from gaining control of the Company without offering a fair and adequate price to all of the Company’s stockholders,” Navistar said.
 
Recent reports have suggested Navistar has been targeted by VW and others for purchase. Earlier, a federal appeals court struck down an EPA rule that allowed Navistar to pay fines on engines not meeting emissions standards.
 
 

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