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Short Take: Excite adopts shareholder-rights plan

The board of directors for Net directory Excite adopted a shareholder-rights plan to protect the company from potential takeover attempts. The "poison pill" is intended to give the board time to "study and respond to" an unsolicited tender offer or other attempted acquisition. Excite said the plan was not made in response to any specific offer and it is unaware of any current attempts to buy the company. Zapata, a holding company, tried to buy Excite in May.

The board of directors for Net directory Excite adopted a shareholder-rights plan to protect the company from potential takeover attempts. The "poison pill" is intended to give the board time to "study and respond to" an unsolicited tender offer or other attempted acquisition. Excite said the plan was not made in response to any specific offer and it is unaware of any current attempts to buy the company. Zapata, a holding company, tried to buy Excite in May.