Interpore Installs Stock Plan to Blunt Any Hostile Takeover

Interpore International, which makes synthetic bone-graft material, said Wednesday that its board of directors has adopted a stock plan to discourage hostile takeovers.

Under the plan, if any stockholder accumulates more than a 20% stake in the company, the remaining shareholders will have an option to buy $66 worth of common stock for the exercise price of $33. The holder of more than 20% of the company’s stock will be excluded from 2-for-1 purchase option.

The company said that it does not believe it is currently the target of a hostile takeover but wanted to adopt the plan as a precaution.

“In the industry, there is definitely consolidation going on,” said Chief Financial Officer Richard Harrison. “There are probably hundreds of these plans around the country. None has actually been tripped.”

Shares of Irvine-based Interpore closed unchanged at $4.875 Wednesday in Nasdaq trading.