Cooper Cos. Adopts New Poison Pill Plan
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IRVINE — Cooper Cos. adopted a shareholder rights plan that would take effect if the company becomes the target of an unwanted takeover attempt.
A previous poison pill plan expired Wednesday.
Under the new plan, shareholders of record Nov. 17 will receive the right to purchase one preferred share for each share of common stock held. The plan will kick in if an investor acquires a stake of 20% or more in the company, which makes and sells health-care products and services.
The company said the plan is not a response to any known takeover attempt.
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