Forum Energy Technologies Adopts Limited Duration Stockholder Rights Plan
Forum Energy Technologies, Inc. (FET)
Last forum energy technologies, inc. earnings: 2/12 08:25 pm
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US:NYSE Investor Relations:
ir.f-e-t.com
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (the “Company”) today announced that its Board of Directors has approved the adoption of a limited duration Stockholder Rights Plan (the “Rights Plan”), effective April 29, 2020. The Rights Plan is similar to plans adopted by numerous publicly traded companies.In light of the significant market disruption caused by the rapid and sharp decline in oil prices, which has been exacerbated by the COVID-19 pandemic and other macroeconomic factors, and the resulting decline in the market price of the Company’s common stock, the Rights Plan is designed to protect stockholders, including by keeping any party from obtaining effective control of the Company without paying a fair control premium and preventing any one stockholder from effectively blocking strategic actions that may be beneficial to all stockholders. The Rights Plan is not designed to prevent any action that the Board of Directors determines to be in the best
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