Investor calls Pier 1 Imports’ poison pill a ‘scare tactic’
September 29, 2016
Alden Global Capital, the largest active investor in Pier 1 Imports, isn’t impressed with a poison pill plan adopted by the retailer’s board that would make it harder for the company to be acquired. Alden, which owns 9.5 percent of Pier 1’s shares, took a shot at the retailer’s board for its lack of investment in the business. Board members, not counting CEO Alex Smith who is leaving the company, own 0.6 percent of the company’s stock.
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