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LIVING CENTERS OF AMERICA ADOPTS STOCKHOLDER RIGHTS PLAN
PR Newswire
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November 21, 1994
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COPYRIGHT 1994 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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HOUSTON, Nov. 21 /PRNewswire/ -- Living Centers of America, Inc. (NYSE: LCA) announced that its board of directors has adopted a stockholder rights plan to protect the company's stockholders from unfair actions by third parties. The plan, with a 15% "trigger," is similar to ones adopted by numerous other companies.
The rights are intended to assure that all Living Centers stockholders receive fair and equal treatment in the event of a proposed takeover of the company and to guard against partial tender offers, open market accumulations and other abusive tactics to gain ...
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