WINNIPEG/REUTERS
Maple Leaf Foods has adopted a shareholder rights plan and its chief executive is acquiring nearly a third of its shares, prompting speculation a takeover attempt could be in the works.
The Canadian food processor denied that the poison pill was in response to any actual or anticipated transaction, saying it merely replaced a rights plan that expired last year. The moves also follow a standoff with an activist investor earlier this year.
CEO Michael McCain said he increased his take because he believes strongly in the company.
