Nordstrom Inc adopted a “poison pill” to prevent investors from amassing 10% or more of its shares, the company said on Tuesday, just days after the Mexican retailer revealed a significant stake in the luxury department store chain.
Nordstrom said the shareholder rights plan, which is set to expire in September of next year, has not been adopted in response to any specific takeover offer and is not intended to deter buyers.
Mexican department store chain Liverpool it had disclosed last week a passive 9.9% stake in Nordstrom, in an attempt to diversify its geographic presence.
Liverpool is currently the second largest shareholder, behind former chairman Bruce Nordstrom, according to Refinitiv.
Other members of Nordstrom’s founding family, such as CEO Erik Nordstrom and Chairman Peter Nordstrom, are also among the largest shareholders.
Las poison pills make an acquisition more expensive or difficult by allowing existing shareholders to buy securities at a discount, diluting the suitor’s stake.
[ad_2]
hartford car insurance shop car insurance best car insurance quotes best online car insurance get auto insurance quotes auto insurance quotes most affordable car insurance car insurance providers car insurance best deals best insurance quotes get car insurance online best comprehensive car insurance best cheap auto insurance auto policy switching car insurance car insurance quotes auto insurance best affordable car insurance online auto insurance quotes az auto insurance commercial auto insurance instant car insurance buy car insurance online best auto insurance companies best car insurance policy best auto insurance vehicle insurance quotes aaa insurance quote auto and home insurance quotes car insurance search best and cheapest car insurance best price car insurance best vehicle insurance aaa car insurance quote find cheap car insurance new car insurance quote auto insurance companies get car insurance quotes best cheap car insurance car insurance policy online new car insurance policy get car insurance car insurance company best cheap insurance car insurance online quote car insurance finder comprehensive insurance quote car insurance quotes near me get insurance