Target board orders new poison pill
September 19, 2001,
Minneapolis — The board of directors of Target Corp. has adopted a shareholder rights plan to protect the company against a potential hostile takeover.
The new plan is substantially the same as an older protection package that expires on Sept. 26, and the company said it's designed to protect the rights of the company's 15,000 shareholders in the event of an unsolicited takeover attempt. The company said the new plan was not put in place in response to any present effort to acquire Target.
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