BAIRD CORP <BATM> SETS RIGHTS PLAN
Baird Corp said its independent
directors adopted a plan under which one stock purchase right
will be distributed as a dividend on each common share to
stockholders of record March 23.
    The plan is designed to protect shareholders against
unsolicited or coercive takeover attempts.
    The rights, which would allow holders to buy one-half share
of common for 20 dlrs, will be exercisable if a suitor acquires
25 pct or more of the company's common as of today or 30 pct at
a later date, or if such a holder begins a tender offer to
acquire the company, or in other circumstances.
    Under certain conditions, the rights will allow holders to
buy stock in a surviving company at half price.
    Baird can redeem the rights at five cts apiece subject to
certain conditions, it said.
 Reuter
