China's iKang adopts poison pill following rival PE-backed buyout offer
IKang Healthcare Group – a US-listed Chinese company that is subject to competing PE-backed privatization proposals, one led by management and another involving an industry rival – plans a rights issue, or “poison pill” strategy, intended to thwart the external bid.
The iKang board has authorized the issuance of one right for each outstanding Class A and Class B common share, according to a filing. A conversion of rights to shares can be triggered by the announcement...
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