NES - Nuverra to launch limited duration shareholder rights plan

Nuverra Environmental Solutions ([[NES]] +36.1%) skyrockets after its board approved the adoption of a limited duration stockholder rights plan, which will provide for the issuance of one right for each outstanding common share.In general, the rights will become exercisable only if a person or group acquires beneficial ownership of 45% or more or announces a tender or exchange offer that would result in beneficial ownership of 45% or more of the company's common stock.Nuverra recently closed a multi-faceted debt refinancing, which repaid all outstanding obligations owed to Ares.

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Nuverra to launch limited duration shareholder rights plan