Jason Industries Adopts Stockholder Rights Agreement
JASON INDUSTRIES (JASN)
Last jason industries earnings: 5/2 08:00 am
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US:NASDAQ Investor Relations:
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Source: Business Wire
MILWAUKEE--(BUSINESS WIRE)--Jason Industries, Inc. (NASDAQ:JASN) (“Jason” or the “Company”) today announced that its Board of Directors authorized the adoption of a stockholder rights agreement with an eighteen month term (the “Rights Agreement”). The main purpose of the Rights Agreement is to protect the Company’s credit agreement from default which could occur if a person or group acquired a significant ownership of the Company’s outstanding common stock triggering a change in control. A change in control under the credit agreement occurs when a person or group acquires a 35 percent direct or indirect equity voting power in Jason Partners Holdings Inc. The Rights Agreement also protects the interest and investment of the Company’s stockholders.The Rights Agreement is intended to protect stockholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty upon any person or group which acquires 30 percent or more of Jason’s
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