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Biotech / Medical : Eli Lilly
LLY 1,076+0.5%Dec 22 3:59 PM EST
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To: Bull-like who wrote (293)8/22/1998 10:53:00 PM
From: kas1   of 642
 
Received the new Lilly shareholder rights plan in the mail today--

Not sure if I understand it correctly, but it sounds like a mechanism to increase the cost of buying additional shares once someone has bought 15% of the company? I know it's meant to prevent hostile takeovers, but I'm just trying to understand its inner workings.

Thanks in advance for any elucidation.
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