Central Maine Power Co. (CMP) has adopted a shareholder rights plan that will gu
Central Maine Power Co. (CMP) has adopted a shareholder rights plan that will guarantee stockholders the right to purchase additional stock at half its market value under certain hostile takeover conditions. CMP president David T. Flanagan said the utility isn't aware of any takeover threat but took the move to protect shareholders. The plan has been in development for a number of years, with a key step being the 1991 approval of an increase in the number of common shares that could be issued. Details, related article.
Central Maine Power Company
"Central Maine Power Co. (CMP) has adopted a shareholder rights plan that will gu" (1994). Maine News Index – Portland Press Herald. 15097.
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