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North American Palladium Ltd. (CVE:PDL)(AMEX:PAL) reports its board of directors has approved the adoption of a shareholder rights plan, which takes effect immediately.
North American Palladium Ltd. (TSXV:PDL)(AMEX:PAL) reports its board of directors has approved the adoption of a shareholder rights plan, which takes effect immediately.
The press release is quoted as saying,
The primary objectives of the Rights Plan are to provide Shareholders with adequate time to properly evaluate any offer, and also to provide the Board of Directors with additional time to assess any offer and, if appropriate, to explore and develop alternatives for maximizing shareholder value. The Rights Plan in no way prohibits a change of control of the Company in a transaction that is procedurally fair to its shareholders.