InterOil Adopts Poison Pill As Suitors Line Up For $6B JV

Law360, New York (April 24, 2013, 3:32 PM EDT) -- InterOil Corp. has adopted a poison pill designed to keep any hostile bidder under 20 percent as it weighs possible joint venture partners for its $6 billion liquefied natural gas export project in Papua New Guinea, the company said Wednesday.

The Canadian energy company said the new plan ensures “that all shareholders are treated fairly in connection with any takeover offer for the company” and that the board isn't blindsided by an unsolicited bid. The record date for participation in the rights plan is May 29....
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