Pacific Scientific Anti-Takeover Plan Includes New Class of Preferred Stock

Pacific Scientific Co., an Anaheim electronics firm, said it has adopted an anti-takeover plan “intended to give the board of directors negotiating flexibility and . . . protect the company’s shareholders” in the event of a hostile acquisition attempt.

The company said in a prepared statement, however, that it is not aware of any effort being made to acquire Pacific Scientific. Company officials were unavailable for comment on the complex plan, which creates a new class of preferred stock and issues a dividend of preferred stock purchase rights to shareholders of record on Nov. 18.

Pacific Scientific common stock, which has traded as high as $40, closed at $11.25 a share Tuesday, down 25 cents for the day, in light trading on the New York Stock Exchange.

The company recently reported a third-quarter loss of $2.2 million, largely the result of the costs of closing down one of its subsidiaries. For the first 9 months of its fiscal 1989, Pacific Scientific reported a profit of $22,000 and revenue of $108.8 million.