“NEW YORK (MarketWatch) — Navistar International Corp. NAV -5.51% said Wednesday it adopted a stockholder rights plan, or poison pill, to prevent a hostile takeover of the Lisle, Ill.-based maker of engines, military vehicles and recreational vehicles. “The plan is designed to deter coercive tactics including the accumulation of shares in the open market or through private transactions and to prevent an acquirer from gaining control of the company without offering a fair and adequate price to all of the company’s stockholders,” Navistar said.”
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Wait so if you’re acquiring the shares at market price, how is that not “fair and adequate”?
I hate these fucking bullshit strategies.