P&G; will seek anti-takeover measures.
The consumer products giant said in a Securities and Exchange Commission filing that it will ask shareholders to approve a variety of defensive provisions at the company’s annual meeting Oct. 8. Procter & Gamble said it “has no reason to believe that any party has plans of any kind to seek control of the company.” But it added that it sought the measures--including staggered terms for directors, an anti-greenmail provision and authority to issue new stock--to “promote continuity” and prevent a sudden change in the firm’s long-term policies.
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