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Financings in Brief: Bio-Vascular Inc.

This article was originally published in The Gray Sheet

Executive Summary

Bio-Vascular Inc.: Adopts shareholder rights plan "to protect the company and its shareholders from unsolicited attempts or inequitable offers to acquire the company." The company will make a dividend distribution on July 15, 1996 of one common share purchase right for each outstanding share of the company. Rights become exercisable following the acquisition of 15% or more of the company's common stock or initiation of a tender offer that would "result in ownership by the person or group of 15 percent or more of the company's common stock". Bio-Vascular says it is "not aware" of any specific effort to acquire control of the company...
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