- The shareholder rights plan has each shareholder of Icahn target Nuance Communications (NASDAQ:NUAN) receiving one right for each share they own. If the rights become exercisable, it will entitle the owner to buy one one-thousandth of a share of a new series of preferred stock at $87 each. The plan expires a year from now.
- The rights will be exercisable if a person or group acquires 20% of more of the common stock of the company in a transaction not approved by the board.
- The financial world awaits the Icahn response.
- Shares +1.1% premarket in very thin volume.
- Press release.