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The AFU and Urban Legend Archive AFU AFU, Inc. poison pill defense
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The AFU and Urban Legend Archive AFU AFU, Inc. poison pill defense
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From: "Thomas O'Donnell" <todonnel@otcdev13.silver2.lehman.com>
Date: Tue, 18 Oct 1994 13:04:34 -0400
AFU Announces Poison Pill Defense
NEW YORK. AFU surprised Wall Street by announcing a poison pill defense against possible hostile takeover attempts. A poison pill defense works by making corporate assets unavailable to raiding predators in the event of a hostile takeover. Rumor has it that AFU has contingency plans to distribute all assets to current shareholders, on the basis of seniority. At press time it was not clear how the AFU Plaza properties would be handled. AFU officials were not available for comment.
In a seemingly unrelated development, David Delaney re-appeared on the board of directors after a brief absence. Prominent shareholder snopes, pausing in his accumulation of Snapple (SNPL) stock, insisted that his own recent return was purely coincidental.
The stock dropped a half point to 24 3/8 as arbitrageurs
ran for the exits.
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