Jan 28 Struggling department store operator J.C.
Penney Co Inc said it lowered the threshold for
triggering a takeover defense plan to protect about $2 billion
in future tax benefits.
The company said it was lowering the trigger on its poison
pill to 4.9 percent from 10 percent, as any change in stock
ownership of 5 percent or more could "substantially limit" the
company's ability to use its net operating loss carryforwards
under the tax code.
(Reporting by Siddharth Cavale in Bangalore; Editing by