Hornbeck Offshore adopts new stockholders rights plan

theflyonthewall.com

Hornbeck Offshore Services announced that its Board of Directors adopted a new stockholder rights plan to replace the Company's previous stockholder rights plan that expired on June 17. Similar to the Expired Rights Plan, the New Rights Plan is designed to enable all stockholders to realize the full value of their investment and to provide for fair and equal treatment for stockholders if an unsolicited attempt is made to acquire the Company. Further, by providing defenses against the accumulation of Company stock by third parties, the Board feels that the New Rights Plan provides the Company with another tool to protect its U.S. citizenship qualification under U.S. maritime law.

View Comments