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FXCM Adopts Shareholder Plan to Block Unwanted Takeovers

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FXCM Inc., the currency brokerage that almost failed because of trading losses, adopted a stockholder-rights plan making it harder for anyone to take control of the company.

Each shareholder was given the right to buy a new class of stock if someone else accumulates more than 10 percent of the firm, New York-based FXCM said Friday in a filing. Holders of the new shares are entitled to 1,000 times the dividend on common stock, according to the filing. In the event of a merger, they could receive 1,000 times the purchase price, discouraging someone from trying to buy FXCM on the open market.