AMR Corp. Bolsters Takeover Defense: AMR Corp.,...
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AMR Corp. Bolsters Takeover Defense: AMR Corp., the parent of American Airlines, strengthened its “poison pill” takeover defense. The company said if anyone buys 10% of its shares, other stockholders would be entitled to buy additional shares at half price, making the cost of the deal prohibitively expensive. The original plan, adopted in 1986, put the option into effect after a 20% acquisition.
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