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TRW Shareholders Reject Hostile-Takeover Protection Policy.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Mackinnon, Jim
Tags: poison pill, shareholder, TRW
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Jan. 25--TRW shareholders didn't want to swallow a so-called poison pill policy that made it costly for unwelcome suitors to buy the company out.
So yesterday, TRW's board of directors voted to end its nearly 4-year-old poison pill policy and pay shareholders a half-cent per share in March.
That doesn't mean the automobile, aerospace and information system supplier now is a likely takeover target, though.
"At this time, we don't see a need for (the poison pill policy)," said TRW spokesman Jay McCaffrey.
TRW's estimated $9 billion in debt is more than enough to ...
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