Martek Has New Poison Pill
The shareholder rights will expire in February 2016.
Martek
(MATK)
, a maker of nutritional oils and supplements, said its board approved a new stockholder rights agreement with a 20% trigger.
The new plan will be effective Feb. 7, the date Martek's existing rights agreement is set to expire.
Coinciding with the adoption of the new rights agreement, the company declared a distribution of one right for each of its shares outstanding. Martek said the rights will expire in February 2016.
Shares of Martek were gaining 5 cents to $28.21 Monday.
This story was created through a joint venture between TheStreet.com and IRIS.
