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Foot Locker’s Poison Pill Aimed at Activist Investor With 5% Stake in Macy’s

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Foot Locker adopted a short-term shareholder rights plan, or so-called “poison pill,” that seems to be aimed at warding off the “Czech sphinx” activist investor who grabbed a roughly 5 percent stake in Macy’s earlier this year. These kinds of rights plans generally pose difficulties for entities angling to gain control of a company by…

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