Atlas Engineered Products to adopt shareholder rights plan

Atlas Engineered Products (AEP) has announced that its board of directors has approved the adoption of a shareholder rights plan. The company said the move is intended to ensure that all shareholders are treated fairly in connection with any unsolicited take-over bid or acquisitions of control of the company. The plan also ensures the board is provided with adequate time to consider take-over bids and other acquisitions and evaluate any alternatives. In a news release, AEP explains the processes under having a right, which will be issued to each common share outstanding and will be attached to each future common share issued.