American Apparel Adopts Poison Pill, Considers Offer

In Reports, What's New, Industry News by Accessories Staff

On Sunday, American Apparel announced that it had put in place a new one-year shareholder rights plan.

“The rights plan is designed to limit the ability of any person or group to seize control of the company without appropriately compensating all American Apparel stockholders,” a statement said. “It is intended to provide the board of directors and stockholders with time to make informed judgments. It does not affect trading by passive investors, who may accumulate as much as 10 percent of the company’s common stock, and it has no impact on a takeover proposal for the entire company that is acceptable to the holders of a majority of the company’s shares.”

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