Patterson-UTI Adopts a Limited Duration Shareholder Rights Agreement
Patterson-UTI Energy, Inc. (PTEN)
Last patterson-uti energy, inc. earnings: 4/23 06:01 am
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patenergy.com
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Source: PR Newswire
HOUSTON, April 23, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today announced that its Board of Directors has unanimously adopted a limited duration shareholder rights agreement (the "Rights Agreement") to protect shareholder interests and preserve shareholders' investment in Patterson-UTI.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 Patterson-UTI common stock, the Board believes that adopting the Rights Agreement will help promote the fair and equal treatment of all Patterson-UTI shareholders. The Rights Agreement is intended to reduce the likelihood that someone is able to gain control of Patterson-UTI through open market accumulation without paying all shareholders an appropriate control premium or providing the Board sufficient opportunity to make informed judgments and take a
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PTEN
Earnings
- 10/22/25 - In-Line
PTEN
Sec Filings
- 1/5/26 - Form 4
- 1/5/26 - Form 4
- 1/5/26 - Form 4
- PTEN's page on the SEC website