HAYWARD, Calif.--(BUSINESS WIRE)--IMPAX Laboratories, Inc. (OTC:IPXL) today announced that its Board of Directors has approved the adoption of a shareholder rights plan designed to ensure that all shareholders of the Company receive fair and equal treatment in the event of an unsolicited takeover proposal. The rights plan, which was not adopted in response to any known current accumulation of shares or effort to acquire control of the Company, is designed to enhance the Company's ability to negotiate with any prospective acquirer and to deter unilateral actions by hostile acquirers that could deprive the Company’s Board of Directors and shareholders of their ability to determine the destiny of the Company and obtain the highest price for shareholders’ common stock. IMPAX's shareholder rights plan is similar to plans adopted by many other publicly traded companies.
