ARIAD Announces Termination of Shareholder Rights Plan
January 11 2016 - 7:35AM
Business Wire
ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA) today announced that
its Board of Directors has unanimously approved the termination of
the Company’s Section 382 Rights Agreement, or the Rights Plan,
originally adopted on October 31, 2013, effective immediately. The
Rights Plan and the associated rights expired at 5:00 p.m. EST on
January 8, 2016, and will be of no further force or effect. ARIAD
shareholders do not have to take any action as a result of this
termination.
The Rights Plan had the effect of prohibiting any person from
acquiring 4.99% or more of the Company’s common stock, or if a
group or person already owned 4.99% or more of the Company’s common
stock, from acquiring an additional 0.5% or more of common stock,
subject to certain exceptions.
About ARIAD
ARIAD Pharmaceuticals, Inc., headquartered in Cambridge,
Massachusetts and Lausanne, Switzerland, is an integrated global
oncology company focused on transforming the lives of cancer
patients with breakthrough medicines. ARIAD is working on new
medicines to advance the treatment of various forms of chronic and
acute leukemia, lung cancer and other difficult-to-treat cancers.
ARIAD utilizes computational and structural approaches to design
small-molecule drugs that overcome resistance to existing cancer
medicines. For additional information, visit
http://www.ariad.com or follow ARIAD on Twitter
(@ARIADPharm).
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version on businesswire.com: http://www.businesswire.com/news/home/20160111005320/en/
ARIAD Pharmaceuticals, Inc.For InvestorsMaria Cantor,
617-621-2208Maria.cantor@ariad.comorFor MediaLiza Heapes,
617-621-2315Liza.heapes@ariad.com
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