The troubled DVD rental and video streaming company, a possible acquisition target, has adopted a so-called poison pill after billionaire investor Carl Icahn acquired a 9.98% stake for $169 mil. The stockholder rights plan would be triggered if an "activist shareholder" bought 10% of stock or an institutional investor bought 20%. The plan wouldn't interfere with a merger or buyout. Netflix (NFLX) shares rose 1.8% to 78.24.
- Mergers, Acquisitions & Takeovers
- Carl Icahn