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Fort Worth-based Pier 1 Imports adopts 'poison pill' to fend off takeover

from The Dallas Morning News

Pier 1 Imports said that its board has adopted a shareholders' rights agreement, sometimes called a poison pill because the terms are designed to keep away unwanted takeovers. Recently, hedge fund Alden Global Capital said that it had purchased 9.5 percent of the Fort Worth retailer's shares and that it planned to have ongoing conversations with the board on issues facing the company including the selection of a new CEO and the retailer's ownership structure. more

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