Wednesday, January 7, 2009

InFocus Adopts "Poison Pill"

Wilsonville, Oregon-based InFocus is on the offensive against potential acquirers, saying late Wednesday that it has adopted a Shareholder Rights Plan -- often referred to as a "poison pill" which will be triggered if any person or group acquires 15 percent or more of the company's voting power without approval of its board. According to InFocus, the adoption of the plan will enable the firm to conduct review of "strategic alternatives" without the threat of a takeover. The plan comes after a number of unsolicited offers the firm received in December, where a number of firms have sought to buy the company. InFocus hired on investment banker Thomas Weisel Partners LLC to help the firm deal with those offers.