Fortrea adopts limited-duration stockholder rights plan

Fortrea (FTRE) announced that its Board of Directors has unanimously adopted a limited-duration stockholder rights plan to protect the best interests of all Fortrea stockholders. The Rights Plan is effective immediately and will expire on June 10, 2026, unless terminated earlier by the Board. The Rights Plan is intended to enable the Company’s stockholders to realize the long-term value of their investment, ensure that all stockholders receive fair and equal treatment in the event of any proposed takeover of the Company, and to guard against tactics to gain control of the Company without paying all stockholders an appropriate premium for that control. The Rights Plan is also intended to guard against tactics that might prevent the Board from having sufficient time to make informed judgments and take actions that are in the best interests of the Company and its stockholders. The Rights Plan was adopted in response to the significant and ongoing dislocation in the trading price of the Company’s common stock and recent interest by third parties to capitalize on such dislocation, which may include accumulations of the Company’s common stock.