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May 6, 2014
05:33 EDTALCSALCO Stores adopts amended shareholder rights plan
The ALCO board has announced that the company will amend its existing stockholder rights agreement. The amendment will increase the beneficial ownership threshold at which a person becomes an "Acquiring Person" from 15% to 20% of the company's common stock. The amendment will also increase stockholders' power to respond to a potential third-party offer to acquire the company. Specifically, if the company receives a "qualified" third-party offer to acquire the company that meets certain objective criteria, the record holders of 10% or more of the outstanding common stock will be able to require that a special meeting of stockholders be called to consider redeeming all Rights issued under the Rights Agreement. The board believes these actions are in the best interests of the company's stockholders and will enhance shareholder value and influence while retaining the Rights Agreement's protections that require any potential acquirer treat all stockholders fairly and equally. The company will mail a letter to each stockholder summarizing the changes to the Rights Agreement in detail. Interested parties should refer to that document for a full description of the terms of the amendments to the company's Rights Agreement.
News For ALCS From The Last 14 Days
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July 22, 2014
09:13 EDTALCSCAS says Glass Lewis affirms need for change of ALCO Stores board
Concerned ALCO Stockholders announced that Glass Lewis & Co., LLC has joined Institutional Shareholders Services, Inc. in affirming the need for a change of the incumbent Board of Directors of ALCO Stores. GLís report released Monday, July 21, recommends that investors DO NOT VOTE for any of the incumbent Directors of the Company this year, including Messrs. Royce Winsten, Richard E. Wilson, Dennis E. Logue, Lolan C. Mackey, Terrence M. Babilla, Paul T. Davies, and Leslie A. Ball. Both Glass Lewis & Co. and Institutional Shareholders Services, Inc. recommend ALCO investors use the GOLD proxy card for voting.
08:47 EDTALCSALCO Stores responds to CAS group proxy solicitation materials
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July 21, 2014
08:44 EDTALCSCAS says ISS affirms need for 'meaningful change' at ALCO Stores
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