Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Bryn Mawr Bank Adopts Poison Pill Strategy

Bryn Mawr Bank Corporation (BMTC: Quote) 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.

Click here to receive FREE breaking news email alerts for Bryn Mawr Bank Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.K. economy grew more than estimated in the second quarter and the current account deficit widened from the first quarter, the Office for National Statistics said Tuesday. Gross domestic product grew 0.9 percent sequentially, up from the prior estimate of 0.8 percent. The annual growth was confirmed at 3.2 percent. Eurozone inflation slowed in September, as expected, to the lowest since late 2009 and the unemployment rate remained stable at a double digit level in August putting pressure on the European Central Bank to launch a full-blown easing. Inflation came in at 0.3 percent, slower than August's 0.4 percent. This was the lowest since October 2009, when prices fell 0.1 percent. Chinese authorities on Tuesday eased some rules for mortgages for buying a second home, in a bid to boost the housing market. The People's Bank of China and the China Banking Regulatory Commission said in a joint statement that buyers who already own one apartment, but have paid off the mortgage...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.