Reuters logo
Penney takes step to ward off any coercive takeover methods
August 22, 2013 / 12:43 PM / 4 years ago

Penney takes step to ward off any coercive takeover methods

Aug 22 (Reuters) - J.C. Penney Co Inc on Thursday said it adopted a one-year stockholder rights plan to protect against a potential future use of coercive methods to take the company over.

The department store chain, which is struggling to reverse a massive sales slide in the last 18 months, said the plan was not adopted in response to any particular effort to take control of Penney.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below