Pharma Investments, Ventures & Law Weekly
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Pharma Investments, Ventures & Law Weekly
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Centex Corporation
Centex Adopts Stockholder Rights Plan to Protect Deferred Tax Assets
March 15th, 2009
Centex Corp. announced that its Board of Directors has adopted a stockholder rights plan designed to help preserve the value of certain deferred tax assets that are primarily associated with net operating loss carry-overs and built-in losses under Section 382 of the Internal Revenue Code. The Company's ability to use its existing deferred tax assets would be limited by Section 382 if an "ownership change" occurred -- generally, a greater than 50-percent change in ownership by 5-percent shareholders in any three-year period. Given the rule's broad definition, an ownership change could be the unintended consequence of otherwise ordinary buying and selling of the Company's...
Source: Pharma Investments, Ventures & Law Weekly (2009-03-15)
|
