KOKOMO, Indiana (May 15)—Shareholders of Delphi Automotive Systems Corp. voted in favor May 10 of a non-binding proposal recommending the board seek shareholder approval before enacting poison pill anti-takeover measures. Delphi´s shareholder rights plan adopted in February 1999 allows stockholders to buy new stock at a discount once a person or group acquires 15 percent or more of the supplier´s shares. Delphi´s board is reviewing the plan to see if it should make changes.
Shareholders vote to limit Delphi´s poison pill power
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