McDonald’s adopted anti-takeover measures.
The company took the action--designed to make any unwanted suitor’s attempt prohibitively expensive--even though it said it was unaware of any such bid. Under the plan, McDonald’s would issue its shareholders rights to buy additional common shares if a group or individual either acquired 20% of McDonald’s stock or announced a tender offer for 30% or more of the company. Holders would receive, for each of their shares, the right to acquire another newly issued McDonald’s share for $200. If a hostile takeover succeeded nonetheless, the rights would enable shareholders to acquire the surviving company’s stock at half price.