Monro Adopts Shareholder Rights Plan After Icahn Enterprises Builds 17% Stake

MT Newswires Live11-10

Monro's (MNRO) board approved a one-year shareholder rights plan after Icahn Enterprises (IEP) accumulated a 17% stake in the automotive repair and tire services company.

The plan, set to expire on Nov. 6, 2026, aims to protect investor interests by discouraging any attempt to gain control of the company without fairly compensating shareholders, Monro said Monday in a statement.

Under the plan, one right will be issued for each common share outstanding as of Nov. 24. The rights become exercisable if any entity, person, or group acquires 17.5% or more of Monro's shares.

Monro shares rose 1.2% in recent Monday trading, and Icahn Enterprises fell 1.3%.

Price: 17.72, Change: +0.21, Percent Change: +1.20

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