Re: NOL First Ammenmt - SEC Filing
<The rights plan is NOT intended as an anti-takeover measure, in fact the company directly states that fact in the description of the plan.>
They can say it's all about saving the NOLs, but it has the effect of preventing people from taking a large stake in the company. Even if some company that's interested in buying it wouldn't normally take a large stake first (stuff like that does happen though) some large investors might want to push for a sale or reorganization that would benefit shareholders sooner or by more. By limiting their position, you limit their power and keep shares in the hands of people that may be friendlier to current management and the status quo.