Tech Industry

HP scraps 'poison pill' plan

Hewlett-Packard said Tuesday it was ending a program designed to thwart a hostile takeover of the company, saying the so-called poison-pill program was no longer necessary. HP's shareholder rights plan, which allows the company to issue additional shares to prevent a takeover, will end at the close of business today rather than on Sept. 17, 2011, as originally called for under the plan.

HP has said at the time of the shareholder vote over the Compaq Computer acquisition that it intended to terminate the program once the merger was completed. HP said it could consider a new plan if the need arises.