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Article: J. M. Smucker Announces Adoption of Share Purchase Rights Plan.

Article from:
PR Newswire
Article date:
April 23, 1999
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ORRVILLE, Ohio, April 23 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM.A and SJM.B) announced today that its Board of Directors has approved the adoption of a share purchase rights plan. Under the plan, the Company will distribute rights as a dividend at the rate of one Class A right for each Class A common share and one Class B right for each Class B common share held by shareholders of record on May 14, 1999.

According to Timothy P. Smucker, Chairman of The J. M. Smucker Company, "This action was taken after careful study and was not taken in response to any pending takeover of the Company. The rights plan is intended to protect the Company and its ...

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