FORSTMANN ADOPTS SHAREHOLDER RIGHTS PLAN WITH 25 TRIGGER

FORSTMANN ADOPTS SHAREHOLDER RIGHTS PLAN WITH 25% TRIGGER

NEW YORK — Forstmann & Co., which emerged from Chapter 11 last July, has adopted a shareholder-rights plan — commonly known as a poison pill — that would be triggered once a buyer obtains more than 25 percent of Forstmann’s stock.
The company said the plan was not adopted in response to any effort to gain control of Forstmann.