Flagging WebMD Extends Poison Pill For 2 More Years

Law360, New York (October 19, 2012, 4:12 PM EDT) -- As its steep yearlong skid continues, WebMD Health Corp. bolstered its defense against hostile takeovers by adding new provisions to its shareholder rights plan meant to stave off unsolicited suitors for two more years, the floundering health website said Friday.

The amendments include extending the poison pill's expiration date through October 2014 and stipulating that equity compensation awarded to directors will not count in determining whether a stockholder becomes an “acquiring person” under the plan.

WebMD, which offers users a massive online database of health information,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.