Penney’s shareholders OKd anti-takeover steps.

They approved two measures at J. C. Penney’s annual meeting held in Los Angeles. One measure calls for staggered terms for directors of the New York-based retailer, which is incorporated in Delaware. The other requires an 80% shareholder vote to approve a merger or other business combination between the company and a 10% shareholder unless previously approved by Penney’s board or certain price criteria are met.