Premier Laser Sets Shareholder Rights Plan

Premier Laser Systems Inc., a maker of medical lasers and other products, said Thursday that its board adopted a shareholder rights plan to guard against abusive takeover tactics and to ensure fair treatment of shareholders.

The plan, which will be triggered by an investor buying 15% of the stock, was not adopted in response to any pending effort to acquire the company, a spokesman for the firm said.

Under the plan, Premier will distribute one preferred share purchase right for each outstanding Premier common share, payable April 14 to shareholders of record on that date, the company said in a press release Thursday.