USA: Nautica Amends Stockholder Rights Agreement
Directors of clothing company Nautica Enterprises Inc on Thursday approved an amendment to its stockholder rights agreement calling for automatic rights redemptions in the event of offers for the firm. The New York-based garment maker said the amended agreement provides, among other things, that rights issued under the stockholders rights agreement will be automatically redeemed under certain circumstances in the event of certain qualifying tender offers, unless stockholders vote to keep the rights outstanding.
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