TechFlow reported, according to Reuters, Bitcoin mining company Bitfarms has approved a "poison pill" plan to fend off a potential hostile takeover attempt by Riot Platforms. A shareholder rights plan, also known as a "poison pill," is used by corporate boards to prevent hostile takeovers.
Bitfarms stated that the rights plan must be approved by shareholders within six months of its adoption, or it will terminate. Under Bitfarms' plan, if any entity accumulates more than 15% ownership in Bitfarms between June 20 and September 10, the company will issue new shares to dilute that entity's stake.
Add to Favorites
Share to Social Media
