The tide was clearly in favor of excising poison pills during February. Only two companies installed shareholders’ rights plans- one of which, Coast Distribution Systems Inc., was defending an unsolicited bid from Bell Industries Inc. The other was Whiting Petroleum Corp., an independent player in the deal-rich oil and gas industry. By contrast, at least eight firms either dropped pills, allowed them to expire, or said they would not be renewed when they came due over the next year. They are: Brinker International Inc., Comarco Inc., Coventry Health Care Inc., IMS Health Corp., ISCO International Inc., Mercantile Bancorp Inc., ServiceMaster Co., and Unisys Corp. STAAR Surgical Co. ended its pills and its staggered board of directors. (c) 2006 Mergers and Acquisitions Journal and SourceMedia, Inc. All Rights Reserved. http://www.majournal.com http://www.sourcemedia.com
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