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Thursday December 14, 3:30 pm Eastern Time Press Release Interphase Corporation Adopts Shareholder Rights Plan DALLAS--(BUSINESS WIRE)--Dec. 14, 2000--Interphase Corporation (Nasdaq:INPH - news), an international supplier of next generation networking technologies, today reported that its Board of Directors approved the adoption of a Shareholder Rights Plan under which all shareholders of record as of the close of business on December 29, 2000 will receive a distribution of rights to purchase additional shares of the Company`s common stock. The Rights Plan, while not adopted in response to any existing offers, is designed to ensure that shareholders are given fair and equitable treatment, and receive the appropriate consideration for their investment, in the event that an unsolicited attempt is made to acquire Interphase Corporation in a situation which might involve abusive takeover tactics. Each right will initially allow the purchase of one share at a price of $93 for each share held. The rights will be exercisable only in the event that a person or entity acquires, or makes a tender or exchange offer to acquire, 15 percent or more of Interphase Corporation`s common stock. Upon an acquisition of 15% or more, each right not owned by the acquiring person or group will be adjusted to allow the purchase for $93 of a number of shares having a then market value of $186. The rights, which expire ten years from the record date, will be distributed to shareholders as of the record date as a non-taxable dividend. The rights will trade with Interphase Common stock until, and if, the occurrence of certain events at which time the rights would become separated. The Board of Directors may terminate the Rights Plan, or redeem the rights for $0.01 per right, at any time until the tenth business day following a public announcement of a 15% or more stock acquisition. Additional details will follow in a subsequent mailing to all shareholders as of the record date. |
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| aus der Diskussion: | INTERPHASE CORP.- Der Thread für Gewinner |
| Autor (Datum des Eintrages): | gholzbauer (14.12.00 21:45:27) |
| Beitrag: | 101 von 514 (ID:2532476) |
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