MacNeal-Schwendler Corp., a Los Angeles software publisher,...

MacNeal-Schwendler Corp., a Los Angeles software publisher, announced a shareholder rights plan and distributed a one-share purchase right for each outstanding share of the company’s common stock. The rights, which become effective in the event an outsider acquires 20% or more of the company, allow shareholders to buy one half of a share of the company’s common stock for $50. The company also announced a stock repurchase program.