Netflix ends anti-takeover measure two years early

Dec 30, 2013

Netflix says it's ending a move meant to help ward off hostile takeovers almost two years early.

The online video company adopted the shareholder rights plan, also known as a poison pill, in November 2012 after activist investor Carl Icahn disclosed a stake of almost 10 percent in the company.

The poison pill was scheduled to expire in November 2015, but the company terminated it effective Monday.

According to FactSet, Icahn now owns a 4.5 percent stake in Netflix Inc.

Netflix stock fell 51 cents to close at $366.99 on Monday. The Los Gatos, Calif.-based company's shares have nearly quadrupled in value this year.

Explore further: Uber says outside review shows customer data safe, private

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Netflix moves to block a hostile takeover (Update)

Nov 05, 2012

(AP)—Netflix is moving to protect itself against hostile takeovers, less than a week after activist investor Carl Icahn disclosed that he has accumulated a stake of nearly 10 percent in the online video ...

Carl Icahn's stake in Nuance grows to 16.9 pct.

Sep 01, 2013

Billionaire investor Carl Icahn has raised his stake in Nuance Communications over the past month to almost 17 percent, nearing a threshold that would trigger defensive mechanisms to thwart a hostile takeover.

Southeastern takes 12 pct stake in News Corp.

Sep 11, 2013

Southeastern Asset Management Inc., the investment firm that along with activist investor Carl Icahn opposed the proposed buyout of Dell Inc., disclosed that it has taken a nearly 12 percent stake in News Corp.

Recommended for you

Airbnb to expand tax collection efforts

Jan 30, 2015

Online lodging operator Airbnb is expanding its efforts to collect local taxes, responding to complaints that it competes unfairly with the hotel sector.

Jay Z to acquire Wimp music service

Jan 30, 2015

US rap star Jay Z will make a $56-million foray into the music streaming business by taking over the Norwegian service Wimp, its shareholders confirmed Friday.

How can Google snap its stock out of its stupor?

Jan 30, 2015

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.