Friday, April 1, 2016

Express no longer takeover target

Columbus-based fashion retailer Express is no longer trying to fend off a potential buyer of the company.

In a little-noticed filing with the Securities and Exchange Commission, Express announced that its board of directors had voted to terminate the company’s stockholder-rights plan, effective earlier this week.

The stockholder-rights plan — commonly known as a "poison pill" — was adopted by Express in June 2014, the day after private-equity firm Sycamore Partners announced that it wanted to buy Express. Such a plan makes it more difficult for an outside company to engineer a hostile takeover.. . . more

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