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Netflix fights off takeover

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Monday, November 05, 2012

Netflix is moving to protect itself against hostile takeovers after Carl Icahn announced a 10% stake in the company.

The company adopted a shareholder rights plan.

Under the plan, rights are exercisable if a person or group acquires 10 percent of Netflix, or 20 percent in the case of institutional investors, in a deal not approved by the board.

Netflix Inc. says its plan isn't intended to interfere with a transaction that's approved by its board.

Read more at OregonLive.com.

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