Tags: Penney | tax | poison | pill

J.C. Penney Lowers Poison Pill Trigger to Protect Tax Carryforwards

Tuesday, 28 Jan 2014 09:55 AM

Struggling department store operator J.C. Penney Co. Inc. said it lowered the threshold for triggering a takeover defense plan to protect about $2 billion in future tax benefits.

The company said it was lowering the trigger on its poison pill to 4.9 percent from 10 percent, as any change in stock ownership of 5 percent or more could "substantially limit" the company's ability to use its net operating loss carryforwards under the tax code.

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Struggling department store operator J.C. Penney Co. Inc. said it lowered the threshold for triggering a takeover defense plan to protect about $2 billion in future tax benefits.
Penney,tax,poison,pill
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2014-55-28
Tuesday, 28 Jan 2014 09:55 AM
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