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BRIEF-Fred's Pharmacy unanimously adopts shareholder rights plan
December 27, 2016 / 12:07 PM / a year ago

BRIEF-Fred's Pharmacy unanimously adopts shareholder rights plan

Dec 27 (Reuters) - Fred’s Inc

* Fred’s inc - after fred’s observed “unusual and substantial activity in company’s shares”, board unanimously adopted rights plan

* Fred’s inc - sets trigger of 10 percent

* Fred’s inc - “has had an ongoing dialogue with a number of shareholders”

* Fred’s inc - rights plan not adopted in response to any specific takeover bid or other proposal to acquire control of company

* Fred’s inc - will close 40 underperforming stores in first half of 2017, creating a benefit to earnings of over $4 million

* Fred’s pharmacy unanimously adopts shareholder rights plan Source text for Eikon: Further company coverage:

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