- Data Translation Adopts Stock Purchase Rights Plan
MARLBORO, Mass., April 28 -- Data Translation, Inc.'s board of directors has declared a special dividend distribution of a preferred share purchase right for each outstanding share of common stock. The dividend will be distributed on April 30, 1999, to stockholders of record as of the close of business on that date.
This rights plan is designed to help the Board of Directors assure that all Data Translation stockholders are treated fairly in any unsolicited merger or other acquisition, said Alfred A. Molinari, the Chairman, President and CEO of Data Translation. Noting that the company has not received any takeover overtures, Molinari explained, The most advantageous time to take this step to protect stockholders' interests is now, when the company is free from any pressures of takeover attempts.
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