Texas Biotech adopts shareholder rights plan

14 January 2002

USA-based Texas Biotechnology Corp says that its board of directors hasadopted a shareholder rights plan, but stresses that it is not in response to any known effort to acquire control of the firm. The intention of the plan is to enable shareholders to realize the long-term value of their investment in the company by protecting them from "unfair or coercive takeover attempts."

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