Chain Store Age
Express Inc. is adopting a shareholder rights plan amid a slump in the company’s share price during the COVID-19 pandemic.
The apparel retailer said the plan, also referred to as a poison pill, is intended to reduce the likelihood that any person or group would gain control of Express through open market accumulations during the current market volatility. It noted that the plan has not been adopted in response in response to any specific takeover bid or other proposal.. . . more