Almaden Minerals Ltd. Announces the Adoption of Shareholder Rights Plan
The Board of Directors of Almaden Minerals Ltd. (NYSE: AAU) has adopted, subject to any NYSE Amex acceptance or approval as may be required, a shareholder rights plan. The TSX has given conditional approval to the Plan.
The Plan is not intended to prevent takeover bids for the Company, to secure continuance of current management or the directors in office or to deter fair offers for the Company's shares. The Plan will provide the Board and the shareholders with more time to fully consider any unsolicited takeover bids for the Company without any undue pressure, it will allow the Board to pursue other alternatives to maximize shareholder value, and it will allow additional time for competing bids to emerge.
The Plan will protect the Company's shareholders from unfair, abusive or coercive takeover strategies, including the acquisition of control of the Company through a takeover bid that does not treat all shareholders equally of fairly.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.