Glendale Federal Savings & Loan’s parent company...

Glendale Federal Savings & Loan’s parent company has adopted what it called a “stockholder rights plan” in the wake of a recent move by a Canadian firm known as Royal Trustco to buy nearly 10% of its stock. Royal Trustco said it may seek control of Glenfed, one of the largest savings and loan companies in the U.S. In a statement to shareholders, Glenfed said the “plan is intended to safeguard you in the event of an attempt to acquire control of the company without offering fair value to all stockholders.” The plan gives Glenfed shareholders primary and secondary purchase rights on their stock that may be exercised if certain ownership changes take place.