Deals
Hologic Adopts Rights Plan as Icahn Reports 13% Stake
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Hologic Inc., a maker of cervical cancer and breast biopsy tools, adopted a shareholder’s rights plan after billionaire investor Carl Icahn reported a 13 percent stake in the company and said he may seek board seats.
The rights plan is designed to make sure all shareholders are “appropriately compensated” and the board has time to make “informed judgements” in case a person or group tries to gain control of the company, Hologic said in a statement today. The move is unlikely to affect Icahn, said Vijay Kumar, an analyst with International Strategy & Investment Group in New York.