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Zymeworks adopts poison pill to stop All Blue takeover: Reuters

Zymeworks said the shareholder rights plan would stop investors from amassing more than 10 percent of its share.

Canadian cancer therapy developer Zymeworks said it has adopted a “poison pill” to thwart a hostile takeover from All Blue Capital, a month after rejecting the firm’s $773 million bid on valuation grounds, Reuters reported. Vancouver-based Zymeworks said the shareholder rights plan would stop investors from amassing more than 10 percent of its share, or 20 percent in the case of some passive investors.

Source: Reuters