BioSource Adopts Shareholders’ Rights Plan

BioSource International has adopted a stockholders’ rights plan to protect the company and its stockholders from unsolicited takeover attempts.

The plan does not prohibit BioSource or its stockholders from accepting an offer for the company approved by the board.

To implement the plan, the company has declared a dividend of one preferred share purchase right for each share of BioSource common stock outstanding today. Each right will entitle stockholders to buy the preferred stock at an exercise price of $24.50.

BioSource said the board has been considering adopting the rights plan since late last year. Although the company has received unsolicited indications of interest on occasion, the rights plan is not in response to any particular acquisition proposal, officials said.

BioSource, which is based in Camarillo, develops immunological reagents and test kits used in biomedical research.