Archive Adopts Takeover Guard

Archive Corp., a Costa Mesa manufacturer of computer tape drives, has adopted a “shareholder rights plan” intended to deter a hostile takeover attempt.

The plan would be triggered in the event someone acquired 20% or more of the company’s stock or made a tender offer that would result in ownership of 30% or more of the stock, the company said. The plan would enable Archive holders to buy stock at a reduced price.

Robert Maples, an Archive spokesman, said the plan is not a response to any specific takeover activity involving the company. He said the company has had no recent takeover offers.