Fortune Brands lets poison pill expire
Oct 4 (Reuters) - Fortune Brands Home & Security Inc said on Thursday that it let its poison pill, adopted in advance of last year's spin-off from Fortune Brands Inc, expire.
The company, which makes Moen faucets and Simonton windows, said adopting a shareholder rights plan, or poison pill, was an appropriate step to protect shareholders when it was being spun off. But after considering the performance of its business and stock over the past year, Fortune's board decided to let the plan expire.
The company's stock was off 1 cent at $27.75 in morning New York Stock Exchange trading.
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