logo
Share SHARE
FONT-SIZE Plus   Neg

Bryn Mawr Bank Adopts Poison Pill Strategy

Bryn Mawr Bank Corporation (BMTC) Wednesday said its Board has adopted a shareholder rights agreement, commonly called poison pill strategy. The company will distribute one common stock purchase right as a dividend on each share to shareholders as of December 1, 2012.

Chief Executive Ted Peters said, "The Board believes that adopting the Rights Agreement continues to enhance our ability to protect shareholder interests and ensure that shareholders receive fair treatment in the event of any takeover attempt.The Rights Agreement is intended to provide the Board with sufficient time to consider any and all alternatives to such an action."

As per the agreement, the rights become exercisable if any person or group acquires 15 percent or more of the company's stock. The rights are set to expire on November 16, 2015.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alteryx, Inc., a provider of self-service data analytics software, is the latest tech company to go public in March. Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. Dunkin' Donuts is bidding adieu to one of its frozen coffee beverages this summer. However, loyal fans of the decades-old menu staple have not taken kindly to the news. The coffee chain said it will discontinue its popular Coffee Coolatta beverage this summer and instead, introduce the new Frozen Dunkin' Coffee, made with coffee extract, sugar and milk. Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company.
comments powered by Disqus
Follow RTT