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When Poison Pills Aren’t Poisonous
Companies are increasingly adopting poison pills to ward off activist investors. And sometimes, they’re just what the doctor ordered.
Pershing Square founder William Ackman Photo credit: (Bloomberg)J.C. Penney Co. is the latest company to adopt what is called a short-term shareholder rights plan to protect itself from a hostile takeover. The company says it took this measure so shareholders can “realize the full and fair value of their investment,” the
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