Company to modify 'poison pill' plan after shareholder pressure
Red Robin Gourmet Burgers Inc. inched closer to the possibility of an acquisition Monday with the modification of a “poison pill” provision that was set up to prevent hostile takeovers. The announcement appeared to be a concession to shareholder groups that have pressured Red Robin in recent weeks to eliminate the poison pill, which the company calls a “shareholder rights plan.” The plan was enacted earlier this year to prevent a hostile takeover by prohibiting any ...
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