Endocare Board OKs ‘Poison Pill’ Strategy
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Irvine-based Endocare Inc. said Monday its board has approved a “poison pill” designed to thwart any hostile takeover bid.
Under the plan, shareholders will receive rights to purchase a larger stake in the company, which manufactures surgical devices, if a person or group acquires more than 15% of Endocare’s stock.
The rights will be issued to shareholders on April 15 as a dividend.
