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Article: Xerox Corporation Adopts New Shareholder Rights Plan
- Article from:
- PR Newswire
- Article date:
- April 7, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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STAMFORD, Conn., April 7 /PRNewswire/ -- Xerox Corporation's (NYSE: XRX) Board of Directors today adopted a new Shareholder Rights Plan which will take effect when the current rights plan expires on April 16.
Under the new plan, which is substantially similar to the expiring plan, Rights will be distributed as a dividend at the rate of one Right for each share of common stock of the company held by shareholders of record as of the close of business on April 16. Each Right will entitle shareholders to buy, upon occurrence of certain events, one unit of a share of preferred stock for $250.
The Rights generally will be exercisable only if a person or ...