It will block the ability of a person or group from gaining control of the company at a depressed stock price.
On Tuesday, the men’s wear retailer said its board has adopted a short-term shareholder rights plan to block the ability of a person or group from gaining control of the company at a depressed stock price.
The plan is designed to allow the shareholders to “realize the long-term value of their investment by reducing the likelihood that any person or group would gain control of Tailored Brands through open market accumulation without appropriately compensating the company’s shareholders for such control or providing the board sufficient time to make informed judgments,” the company said.
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