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BRIEFLY

Sea-Land Corp. activated its "poison pill" plan.

January 13, 1986

The plan is aimed at making the international shipper unpalatable to Dallas financier Harold C. Simmons, who wants to acquire it in a hostile takeover. Noting that the Dallas-based Simmons now has more than 35% of Sea-Land's common stock, company officials decided to trigger an anti-takeover plan approved Dec. 10 by the Sea-Land board of directors. The plan gives current shareholders rights to acquire more stock at a 50% discount, diluting the value of the block held by Simmons.

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