2007 The Associated Press
NEW YORK — Chinese solar product manufacturer Yingli Green Energy Holding Co. Ltd. said Wednesday its board adopted a shareholder rights plan with a 15 percent trigger, designed to protect the best interests of the company and its shareholders against a hostile takeover.
Under the plan, shareholders will receive one right for each share held at Oct. 26, Yingli said.
The rights will become exercisable if a person or group obtains ownership of 15 percent or more of the company's ordinary shares, or attempts to acquire the company without board approval. The plan will remain in effect until Oct. 17, 2017, unless redeemed or terminated earlier by the company, Yingli said.
Yingli's American Depositary Receipts rose 62 cents to $31.75 in morning trading.
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