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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio

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To: tuck who wrote (509)	11/28/2001 6:13:09 PM
From: nigel bates	Read Replies (1) of 1005

Awful lot of these recently... Third Wave Adopts Shareholder Rights Plan MADISON, Wis., Nov. 28 /PRNewswire/ -- Third Wave Technologies Inc. (Nasdaq: TWTI - news) today announced that its board of directors has approved adoption of a shareholder rights plan. The shareholder rights plan is similar to plans adopted by many other companies. The plan is designed to enable all Third Wave stockholders to realize the full value of their investment and to provide for fair and equal treatment of all stockholders in the event that an unsolicited attempt is made to acquire the company. The adoption of the shareholder rights plan is intended to guard shareholders against abusive and coercive takeover tactics. The plan was not adopted in response to any attempt to acquire the company and the company is not aware of any such efforts. Under the shareholder rights plan, stockholders of record as of the close of business on Dec. 20, 2001, will receive one right to purchase a fractional share of Third Wave preferred stock. The rights will be issued as a non-taxable dividend and will expire 10 years from the date of the adoption of the rights plan, unless earlier redeemed or exchanged. The rights are not immediately exercisable and will become exercisable only upon the occurrence of a person or group acquiring 15 percent or more of Third Wave's common stock. If a person or group acquires 15 percent or more of Third Wave's common stock, then all rights holders except the acquirer will be entitled to acquire Third Wave common stock at a significant discount. The effect will be to discourage acquisitions of 15 percent or more of Third Wave's common stock without negotiation with the board of directors. Further details of the shareholder rights plan are outlined in a letter that will be mailed to stockholders as of the record date. In addition, a copy of the rights plan will be filed with the Securities and Exchange Commission...

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