Hologic Opts For Poison Pill After Icahn Discloses Stake

Law360, New York (November 21, 2013, 11:09 AM EST) -- Hologic Inc., a maker of cancer-screening tools, acted fast on Wednesday to adopt a poison pill plan to protect itself against unwanted buyout campaigns, after activist investor Carl Icahn disclosed a sizable minority stake in the company.

The shareholder rights plan, good for a full year, applies if any outside investor tries to acquire a holding of more than 10 percent. In that case, Massachusetts-based Hologic will dilute the value of its shares to make it prohibitively expensive to launch a hostile takeover effort.

A securities...
To view the full article, register now.