PALO ALTO, Calif., June 26, 2020 (GLOBE NEWSWIRE) — The Board of Directors of HP Inc. (NYSE: HPQ) has approved an amendment to the Company’s shareholder rights plan to accelerate the expiration date of the plan to June 25, 2020, effectively terminating the plan as of that date. The limited duration rights plan was previously set to expire on February 20, 2021.
Chip Bergh, Chair of HP’s Board of Directors, said, “The shareholder rights plan was, by design, a temporary measure to protect the long-term interests of our shareholders. In reaching the decision to terminate the plan at this time, the Board took into careful consideration a variety of factors including the appropriateness of maintaining this plan when HP is no longer the subject of a hostile tender offer and corporate governance best practices.”
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Source: HP Inc.