Mercator Board Approves Shareholder Rights Plan

Mercator Minerals Ltd. (TSX:ML) reports that, although it is not aware of any pending or threatened take-over initiatives directed at the Company, Mercator’s Board of Directors today approved the adoption of a Shareholder Rights Plan.

The press release states:

The purpose of the Rights Plan is to provide shareholders and the Mercator Board of Directors with adequate time to consider and evaluate any unsolicited bid made for Mercator, to provide the Board with adequate time to identify, develop and negotiate value-enhancing alternatives (if considered appropriate) to any such unsolicited bid, to encourage the fair treatment of shareholders in connection with any takeover bid for Mercator and to ensure that any proposed transaction is in the best interests of Mercator’s shareholders.

To read the full press release, click here.