Two companies offering well-known consumer brands took opposite directions on poison pills in May. Upscale furniture retailer Design Within Reach Inc. installed a shareholders’ rights plan while food and personal care products giant Sara Lee Corp. reset its pill to expire in September instead of May 2008. Design Within Reach went public in June 2004 at $12 a share but its stock price was less than half of that in mid-June 2006. Sara Lee, which is about to spin off its apparel business, has been restructuring to concentrate on core operations. In other developments, pills were recently installed by Collins Industries Inc. and Halozyme Therapeutics Inc. while Lufkin Industries Inc. let its rights plan expire. (c) 2006 Mergers and Acquisitions Journal and SourceMedia, Inc. All Rights Reserved. http://www.majournal.com http://www.sourcemedia.com
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