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Axonyx, Inc.
Biopharmaceutical firm adopts shareholder rights plan
June 15th, 2005
Axonyx, Inc., (AXYX) announced that its board of directors approved the adoption of a shareholder rights plan. The shareholder rights plan is designed to ensure that shareholders realize fair value and equal treatment in the event of an attempted takeover of the corporation and to protect the corporation and its shareholders against coercive takeover tactics. The plan was not adopted as a result of any existing or proposed potential takeover threat. Under the terms of the plan, Axonyx is distributing one purchase right for each share of common stock outstanding to shareholders at the close of business on May 27, 2005. Axonyx will not issue a separate...
Source: Physician Law Weekly (2005-06-15)
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