USA: Lone Star Steakhouse & Saloon says board developments and 'poison pill' rights resumed
WICHITA, Kan., Nov. 15 /PRNewswire/ -- Lone Star Steakhouse & Saloon, Inc. (Nasdaq: STAR - news) today announced it has taken several steps as part of its continuing evaluation of corporate governance matters and the Board of Directors' focus on improving stockholder value. The Board has decided to: (i) increase to eight the number of directors on the Board by the addition of three independent directors; (ii) redeem its stock purchase rights, commonly known as a ``poison pill''; and (iii) ask stockholders to approve a charter amendment at its next annual meeting to eliminate the present staggered terms and have directors elected annually starting with its 2003 annual meeting.
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