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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?


To: hdl who wrote (18638)11/24/2000 5:46:32 PM
From: Louis V. Lambrecht  Read Replies (1) | Respond to of 19700
 
poison pill
netstocks.com
B2B incubator Internet Capital Group (ICGE: news, msgs) announced that its Board of Directors has adopted a Shareholder Rights Plan. Under the Shareholder Rights Plan, preferred stock purchase rights will be distributed as a dividend at the rate of one Right for each share of common stock outstanding as of the close of business on December 6, 2000. Each Right entitles the holder to purchase from the company one ten-thousandth of a share of Series A Junior Participating Preferred Stock of the company at an exercise price of $100 per Right. Initially, the rights will be attached to the company's common stock and will not be exercisable. The rights become exercisable and will separate from the common stock when certain conditions are met. The move comes after Internet Capital Group's shares have dropped from a 52-week high of over $200 to a recent close of under $10.