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Article: Liz Claiborne announces stockholders right plan.
- Article from:
- PR Newswire
- Article date:
- December 8, 1988
CopyrightCOPYRIGHT 1988 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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LIZ CLAIBORNE ANNOUNCES STOCKHOLDERS RIGHTS PLAN
NEW YORK, Dec. 8 /PRNewswire/ -- Liz Claiborne, Inc. (NASDAQ: LIZC) announced today that its board of directors had adopted a stockholder rights plan in which preferred stock purchase rights will be distributed as a dividend at the rate of one right for each share of common stock held as of the close of business on Dec. 21, 1988. The rights will expire on Dec. 21, 1998. Initially, the rights will be attached to all certificates for Liz Claiborne common stock, and no separate rights certificates will be distributed. Upon the occurrence of certain events, the rights will separate from the common stock ...