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Carrington Laboratories, Inc.
Shareholder rights agreement amended by biotech company
January 14th, 2004
Carrington Laboratories, Inc., (CARN), announced that its board of directors has amended the company's shareholder rights agreement that protects its shareholders from unsolicited takeover proposals and effectively requires that acquisition proposals be negotiated with the company's board of directors. The amendment to the rights agreement was executed by the company and the rights agent, American Stock Transfer & Trust Company, effective December 17, 2003. The amendment increases the initial price for the exercise of a right from $20.00 to $100.00. Carlton E. Turner, president and chief executive officer of Carrington said, "the...
Source: Biotech Week (2004-01-14)
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