04-25-2013, 12:06 AM
Apparently "The Street" is beginning to catch on:
DJ Market Talk: Interoil hangs for sale sign with poison pill
9:08 Am April 24, 2013
The lack of a CEO atop a company obviously causes some instability at a firm but it also makes some suitors keen on launching takeover efforts. In that light and following Tuesday's announced departure of its leader next week, Interoil (IOC) this morning unveiled a poison pill with a 20% trigger--either actually accumulating that much or, in a twist, announcing plans to buy at least that big a stake. But it is opening itself up to a buyout interest, saying the poison pill won't be tripped if interest complies with it's "permitted bid" provisions, which includes a takeover offer being made to all shareholders. That, of course, is typically the case.