Scorpio Bulkers takes precaution against hostile takeover

The danger of one or more investors gaining control of Scorpio Bulkers has made the board of the dry bulk company implement a so-called "poison pill".

Photo: Scorpio Bulkers

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.

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