Metabolix Enacts Shareholder Rights Plan

Metabolix (Cambridge, MA) has enacted a shareholder rights plan, the company announced today. The plan "ensures that shareholders receive fair treatment in the event of any coercive takeover attempt," says Metabolix CEO Richard Eno. However, it " was not adopted in response to any current effort to acquire control of the company," he adds. The plan includes a poison pill provision that takes effect in the event of an attempt to buy 15% or more of the company. The provision allows holders of common stock to exercise a right to purchase...

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