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Tag >> poison pill
Nov 15

More companies adopt pills to protect NOLs

Posted by Stephen Taub in shareholder rights planpoison pillNOLsnet operating loss carryforwardsInternal Revenue ServiceDelaware Supreme CourtcomplianceCash

Stephen Taub

Beazer Homes is the latest company to institute a poison pill to protect its valuable deferred tax losses.

The home builder Monday said it adopted what is known as a Section 382 stockholder rights plan, which is designed to preserve the value of certain deferred tax assets primarily associated with net operating loss carryforwards under Section 382 of the Internal Revenue Code.

Oct 06

Court backs NOL poison pills

Posted by Stephen Taub in shareholder rights planpoison pillNOLsnet operating loss carryforwardsDealscomplianceCash

Stephen Taub

The Delaware Supreme Court  once again came to the defense of the poison pill. This time it addressed the use of a shareholder rights plan to protect valuable net operating loss carryforwards (NOLs).

"The decision reconfirms that directors need not passively face threats; instead, boards have the power to directly combat assaults on the corporation with bold and innovative action," said Wachtell Lipton Rosen & Katz, in a client alert.

Sep 01

Dukes flying in PotashCorp battle

Posted by dbedell in shareholder rightspotashpoison pillmergers and acquisitions, M&A;, DealsCanadaaustralia


Few people would have cared—or understood—three weeks ago if someone had said that potash is a hot commodity. But with Australia’s BHP Billiton and Canada’s PotashCorp in a dukes up, all out brawl right now for control of the Canadian fertilizer firm, potash—and the fertilizer industry—have taken on new significance.

On Tuesday they took the battle to fresh heights—or depths as the case may be—when PotashCorp accused the Aussie mining firm of “highly-unethical” behaviour, as the FT reports.

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