J.C. Penney Trims Poison Pill To Guard $2B In Future Tax Benefits

J.C. Penney Company, Inc. (NYSE:JCP) made changes to its shareholder rights plan to preserve $2 billion in future tax credits. J.C. Penney Company, Inc. (NYSE:JCP) trimmed the threshold for triggering a takeover defense plan to protect about $2 billion in future tax credits. The reduced poison pill trigger would facilitate the retailer to benefit from carry forward of net operating loss. J.C. Penney’s rights plan In August, J.C. Penney Company, Inc. (NYSE:JCP) announced a shareholder rights program that sought to protect the company from a takeover attempt. The retailer’s shareholder rights plan essentially related to distribution of rights to shareholders. Those rights…