The board at Scorpio Bulkers, which in spite of its large-scale sale of newbuilding contracts is still owner of the industry's largest orderbook, is now trying to take precaution against a hostile takeover of the company.
The precaution against a takeover, a so-called shareholder rights plan, also called a "poison pill", will reduce the risk of an investor or a group of investors gaining control of the company through the purchase of shares without paying an adequate premium for a majority stake in the company.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.