Talos Energy Moves to Defend Against Carlos Slim’s Share-Buying Spree
- Billionaire Slim has doubled his stake in Talos over past year
- Mexican businessman also increasing stake of US refiner PBF
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Talos Energy Inc. has implemented a so-called poison pill plan in a bid to defend itself against Mexican billionaire Carlos Slim’s repeated share purchases, which have reached 24.2% of the firm.
The company will issue one right per each common share and the rights won’t be exercisable unless a person or group acquires beneficial ownership of 25% or more of the company’s stock without approval of the board, according to a filing on Tuesday.