Market Overview

CEC Entertainment Adopts Shareholder Rights Plan, Will Not Prevent Any Person from Making Superior Offer

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The Board of Directors of CEC Entertainment, Inc. (NYSE: CEC) (“CEC”)
today announced that it has adopted a shareholder rights plan (the
“Plan”).

Pursuant to the Plan, the Board of Directors declared a dividend of one
preferred stock purchase right (each a “Right” and collectively, the
“Rights”) on each outstanding share of the Company's common stock as of
January 26, 2014 (the “Record Date”). Each Right, once exercisable, will
entitle shareholders to buy one ten-thousandth of a share of a new
series of junior participating preferred stock at a purchase price of
$54.00 per Right, subject to adjustment.

See full press release

Posted-In: M&A News Guidance Contracts Asset Sales Management Global

 

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