Philip Morris Adopts Takeover Defense: Philip Morris...

Philip Morris Adopts Takeover Defense: Philip Morris Cos. announced that it has adopted a “poison pill” defense against unfriendly takeover attempts. Philip Morris said it was not aware of any takeover attempt but said the plan would guard against “abusive tactics to gain control of the company without paying all shareholders a premium value.” Philip Morris owns Mission Viejo Co., primary developer of planned community of Mission Viejo.