MEI Pharma Says Board Approved Adoption Of Limited-Duration Stockholder Rights Plan; Responds To Substantial Stock Accumulation By Anson Advisors And Cable Car Capital
Portfolio Pulse from Benzinga Newsdesk
MEI Pharma's board has approved a limited-duration stockholder rights plan in response to substantial stock accumulation by Anson Advisors and Cable Car Capital. The two entities have acquired a position representing approximately 19.9% of the outstanding shares. The rights plan will be effective immediately and will expire on September 30, 2024.
October 02, 2023 | 10:06 am
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MEI Pharma has adopted a stockholder rights plan in response to Anson Advisors and Cable Car Capital acquiring a 19.9% stake. The plan is effective immediately and will expire on September 30, 2024.
The adoption of a stockholder rights plan is a defensive measure taken by MEI Pharma in response to the substantial stock accumulation by Anson Advisors and Cable Car Capital. This could potentially deter further accumulation or a takeover attempt. However, the impact on the stock price is uncertain as it depends on the market's perception of the move.
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