Aurizon adopts `poison pill’ plan

Future producer Aurizon Mines (TSE) has adopted a Shareholder Rights Protection Plan designed to discourage unfair takeover attempts.

The plan, similar to other “poison pills” adopted by Canadian public companies, will give Aurizon shareholders the right to purchase Aurizon common shares at a 50% discount to market price if, for instance, 10% or more of the company’s shares are acquired through an unapproved transaction.