Midstream (pipeline) giant Williams issued a press release last Friday to say they’ve just swallowed a poison pill. They don’t put it in those exact terms, but that’s what it’s called. The company’s board has adopted a “limited duration stockholder rights agreement.” Why? To fend off potential hostile takeover attempts from those who would buy up a significant number of shares of stock while the company’s share price is down due to the worldwide stock market crash over COVID-19 coronavirus concerns. Williams is not for sale and the company is certainly not to be found on the discount rack.
Midstream (pipeline) giant Williams issued a press release last Friday to say they’ve just swallowed a poison pill. They don’t put it in those exact terms, but that’s what it’s called. The company’s board has adopted a “limited duration stockholder rights agreement.” Why? To fend off potential hostile takeover attempts from those who would buy up a significant number of shares of stock while the company’s share price is down due to the worldwide stock market crash over COVID-19 coronavirus concerns. Williams is not for sale and the company is certainly not to be found on the discount rack.