Lockheed Corp. said it erected takeover defenses.
- Share via
The Calabasas-based aerospace firm announced that its board of directors adopted a shareholder rights plan in which preferred stock rights will be distributed as a dividend at the rate of one right for each common share held as of the close of business on Dec. 22. Analysts said the move amounted to adoption of a “poison pill” defense against possible takeover. Lockheed stock rose sharply last month on rumors that the company was an acquisition target.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.