苹果蜂（Applebee’s）的母公司Dine Brands Global Inc.已采取“毒丸”计划，以抵御投资公司科布勒斯湾资本（Cobblers Cove Capital）和阿尔克豪斯管理公司（Arkhouse Management）的收购要约。
Applebee’s parent Dine Brands Global Inc. has adopted a poison pill to fend off a takeover bid from the investment firms Cobblers Cove Capital and Arkhouse Management.
根据周四的一份声明，这家总部位于加利福尼亚州帕萨迪纳的公司董事会批准了一项所谓的有限期限股东权利协议，以回应有关其股票和衍生品出现“显著”累积的媒体报道。
The Pasadena, California-based company’s board approved a so-called limited duration stockholder rights agreement in response to media reports of a “significant” accumulation of its stock and derivatives, according to a statement Thursday.
据彭博新闻社周三报道，通过掉期和其他工具对Dine Brands近20%的股份拥有经济敞口的科布勒斯湾和阿尔克豪斯曾提议以每股39美元的现金收购该公司。
Cobblers Cove and Arkhouse, which have economic exposure to almost 20% of Dine Brands’ shares through swaps and other instruments, offered to buy the company for $39 per share in cash, Bloomberg News reported Wednesday.
声明称，该“毒丸”计划“旨在降低”任何人获得控制权的可能性，“除非向所有股东支付适当的控制权溢价”。周四上午，Dine Brands在纽约股市变动不大。
The poison pill is “intended to reduce the likelihood” that anyone could acquire control “without paying all stockholders an appropriate control premium,” according to the statement. Dine Brands was little changed in New York Thursday morning.
律师马丁·利普顿（Martin Lipton）于20世纪80年代发明了“毒丸”计划，以抵御企业掠夺者。其理念是，公司可以向除进攻方以外的所有人折价发行和出售股票，从而破坏收购的财务可行性。
The lawyer Martin Lipton invented poison pills in the 1980s to fend off corporate raiders. The idea is that a company can issue and sell stock to everyone but the aggressor at a discount, wrecking the financial feasibility of a takeover.
在这种情况下，如果科布勒斯湾、阿尔克豪斯或其他方在未经董事会批准的情况下购买了规定数量的股票，其他人基本上将获得以5折优惠购买Dine Brands股票的权利。
In this instance, if Cobblers Cove, Arkhouse or another party buys a set amount of stock without board approval, others would basically get the right to buy Dine Brands stock at a 50% discount.
声明称，该权利协议将于11月初生效，并于2027年10月到期，除非在此之前被终止。如果被动投资者收购超过其20%的股票，或非被动投资者购买至少10%的股票，该协议将被触发。它还将阻止科布勒斯湾和阿尔克豪斯将其经济利益转换为超过10%的任何股份。
The rights agreement would go into effect in early November and expire in October 2027, unless terminated before then, according to the statement. It would be triggered if a passive investor acquired more than 20% of its stock or if a non-passive investor bought at least 10%. And it would prevent Cobblers Cove and Arkhouse from converting their economic interest to anything above 10%.
Dine Brands旗下拥有近3500家餐厅，涵盖IHOP、Applebee’s和Fuzzy’s Taco Shop品牌。
Dine Brands has nearly 3,500 restaurants under the IHOP, Applebee’s and Fuzzy’s Taco Shop brands.