1. Sotheby's Adopts Shareholder Rights Plan to Fend off Loeb

    Sotheby's Adopts Shareholder Rights Plan to Fend off Loeb

    Poison pen is being met with poison pill.  The auction house Sotheby’s announced on Friday that its board had adopted a shareholder rights plan, known as a poison pill, that is set off whenever an outsider acquires ownership of 10 percent or more of the company’s stock...

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    1. Third Point is disappointed that Sotheby's Board of Directors has trotted out the poison pill – a relic from the 1980's.
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