OTHER NEWS - Dec. 30, 1995
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Westinghouse Adopts ‘Poison Pill’ to Forestall Takeover: The Pittsburgh-based industrial and broadcasting company said it has adopted a shareholder rights plan “to discourage takeovers that do not provide a fair value to all shareholders.” Westinghouse Electric Corp. said it is not aware of any plans by anyone to buy the company, which recently bought CBS Inc. for $5.4 billion. Under the terms of the “poison pill” plan, shareholders will receive the right to a share of common stock that will be exercisable if someone acquires 15% or more of the voting stock, or announces an offer to buy 30% or more of the voting stock.
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