Intact adopts shareholder rights plan

Intact Financial Corporation has adopted a shareholder rights plan, effective Feb. 9.”The plan is intended to ensure the fair treatment of Intact’s shareholders in any transaction that would result in a change of control of the company,” the company announced in a press release. “The plan also provides the board of directors and the shareholders with adequate time to evaluate any unsolicited take-over bid and, if appropriate, seek out alternatives to maximize shareholder value.”The plan will be submitted for ratification at the next meeting of shareholders. “It is similar to those adopted by many Canadian corporations and will be available electronically at www.sedar.com,” the company announced.