Pier 1 protects brand with ‘poison pill’ plan

In addition to posting its earnings, Pier 1 announced a plan to protect the company from potential takeover bids.



On Tuesday, the home decor chain announced a “Rights Protection Agreement,” which will protect itself from any single shareholder seeking to acquire a 10% stake or more, as summarized in an article in MarketWatch.



Pier 1’s board of directors made the decision following recent accumulations of the company’s common stock, a company statement reported. Overall, this “poison pill” discourages unfair attempts to acquire control of the brand.



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