Lufkin Industries Inc.Lufkin Industries Lufkin Industries NASDAQ: LUFK is a manufacturing company based in Lufkin, Texas and one of the largest employers in the city. Founded in 1902, it produces machinery such as oilfield pumping units, electrical equipment and trailers for trucks. Inc., Lufkin, Texas, said its board of directors will not renew a shareholder rights plan to avoid hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. bids, also known as a "poison pill A defensive strategy based on issuing special stock that is used to deter aggressors in corporate takeover attempts. The poison pill is a defensive strategy used against corporate takeovers. ." |
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