Rights Plan Adopted: FHP Inc., a highly...
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Rights Plan Adopted: FHP Inc., a highly successful Fountain Valley-based health maintenance organization, has adopted a shareholders rights plan intended to make a hostile takeover more costly for a would-be acquirer.
The company said the plan would be activated by certain events, including a party’s acquisition of 15% or more of FHP’s common stock.
The plan would permit people who held the company’s common stock as of June 29 to purchase additional shares at a discounted price.
Under the plan, those holders would receive one right to purchase discounted stock for each share of common stock they held.
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