Sentences with phrase «tactical shareholder rights»
The transaction started out as a hostile takeover bid, with Aurora entering into a lock - up agreement with four major CanniMed shareholders.CanniMed's management retaliated by adopting a tactical shareholder rights plan, which was in turn challenged in court (and ultimately stuck down as an improper defensive tactic).
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Canadian shareholder rights plans come in two forms: «pre-approved plans» and «tactical plans» and the board should have given consideration to approving the appropriate plan for the company.