(Reuters) – Beacon Roofing Supply said on Tuesday it has adopted a limited duration stockholder rights agreement, commonly known as a poison pill, following a hostile takeover bid by QXO.
Beacon is issuing one preferred share purchase right for each outstanding share of its common stock to stockholders by way of a dividend, as of Feb. 7, the company said.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shounak Dasgupta)
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