Southwest Gas Adopts Short-Term Stockholder Rights Plan

(RTTNews) - Southwest Gas Holdings Inc. (SWX) said that its board adopted a short-term stockholder rights plan on October 10, 2021.

The Rights Plan will position the Company's Board of Directors to fulfill its fiduciary duties on behalf of all stockholders by ensuring that the Board has sufficient time to make informed judgments about any attempts to control the Company and will encourage anyone seeking to gain a controlling interest in the Company to negotiate directly with the Board prior to attempting a takeover.

The Rights Plan has a 364-day term, expiring on October 9, 2022. The Board may consider an earlier termination, or extension, of the Rights Plan if market and other conditions warrant.