Conseco, Inc.
Conseco Adopts Stockholder Rights Plan
Published in Lab Business Week, February 8th, 2009
Conseco, Inc. (NYSE:CNO) announced its Board of Directors has adopted a stockholder rights plan designed to protect stockholder value by preserving the value of certain tax assets primarily associated with tax net operating loss carryforwards under Section 382 of the Internal Revenue Code. Section 382 would limit the value of those tax assets upon an "ownership change." The rights plan was adopted to reduce the likelihood of this occurring by deterring the acquisition of stock that would create "5-percent shareholders" as defined in Section 382.
Under the rights plan, one right will be distributed for each share of common stock of Conseco outstanding as of the close of...
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Source: Lab Business Week (2009-02-08)
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