UAL Strengthens Takeover Defense: The parent of...

UAL Strengthens Takeover Defense: The parent of Chicago-based United Airlines, a rumored takeover target, amended its “poison pill” to reflect a 73% gain in its stock price since the defensive measure was adopted in December 1986. Under the amended plan, shareholder rights may be converted into three common shares instead of two shares when an unwanted suitoracquires more than 15% of UAL’s stock. The poison pill makes UAL more expensive to acquire.