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Spherix Incorporated Message Board

  • qrtr_miler qrtr_miler Feb 1, 2013 12:54 PM Flag

    New anti-takeover sec filing

    another step towards reverse merger with Wednesday's filing......basically prevents someone else from reverse merging SPEX thru the back door......but in no way impares SPEX from moving forward with their own reverse merger plan. From the filing:
    "The Board adopted the Rights Agreement (as herein defined) to protect stockholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty under any person or group that acquires 10% or more of the Common Shares without the approval of the Board. As a result, the overall effect of the Rights Agreement and the issuance of the Rights may be to render more difficult or discourage a merger, tender or exchange offer or other business combination involving the Company that is not approved by the Board. However, neither the Rights Agreement nor the Rights should interfere with any merger, tender or exchange offer or other business combination approved by the Board."

    Unfair takeover tactics? That's funny. The Board wants to be free to impose their own unfair takeover tactics but block all others....not like folks are lined up to r/m with this big, steaming pile of poo.....

    1 out in the bottom of the ninth.....

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