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Talos Energy adopts poison pill after Mexican tycoon Slim's firm boosts stake
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Talos Energy adopts poison pill after Mexican tycoon Slim's firm boosts stake
Oct 2, 2024 10:13 PM

Oct 1 (Reuters) - Talos Energy ( TALO ) said on Tuesday

that it had adopted a so-called poison pill to keep Mexican

billionaire Carlos Slim's investment firm from gaining control

of the company.

The move comes days after Slim's Control Empresarial De

Capitales disclosed in a filing that it had accumulated 24% of

Talos' common stock, the company said.

Shares of Talos were down 2.7% in premarket trading.

Poison pill, or shareholders rights plan, is often used by

corporates to thwart hostile takeover bids.

The plan is effective immediately and will expire on Oct. 1,

2025.

Talos said the board might consider an earlier termination

of the rights plan if circumstances warrant.

"We have every intent to continue working constructively

with Control Empresarial. The Board welcomes long-term

investors," Talos' board chair, Neal Goldman, said.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Anil

D'Silva)

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