MINNEAPOLIS-Racotek Inc. said its board of directors has adopted a stockholder rights plan designed to protect the long-term value of the company during any future unsolicited acquisition attempt.
The company said it is not aware of any efforts to acquire Racotek, but the recently adopted plan would give the board time to study and respond to any attempt to acquire Racotek.
The board also declared a dividend of one preferred share right for each share of common stock outstanding on Sept. 28. The rights expire in 2004.
