Bitfarms Board Unanimously Approves Adoption Of Shareholder Rights Plan
Portfolio Pulse from Benzinga Newsdesk
Bitfarms' Board has unanimously approved a Shareholder Rights Plan to protect the integrity of its strategic alternatives review process. The plan allows Riot to proceed with an unsolicited take-over bid under Canadian securities laws and becomes exercisable if a person or related persons acquire 15% or more of Bitfarms' shares before September 10, 2024, or 20% thereafter without complying with the plan's provisions.
June 10, 2024 | 10:05 am
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POSITIVE IMPACT
Bitfarms has adopted a Shareholder Rights Plan to protect its strategic review process, which could impact its stock price by preventing hostile takeovers and ensuring shareholder interests are safeguarded.
The adoption of the Shareholder Rights Plan is a defensive measure to protect Bitfarms' strategic review process and shareholder interests. This could positively impact the stock price by providing stability and preventing hostile takeovers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Riot is allowed to proceed with an unsolicited take-over bid for Bitfarms under the new Shareholder Rights Plan, which could influence its stock price based on market reactions to potential acquisition activities.
Riot's ability to proceed with a take-over bid for Bitfarms under the new plan could lead to market speculation and potential stock price movements based on acquisition activities.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70