Victoria's Secret up after adopting 'poison pill'

Victoria's Secret & Co.

20/05/2025 14:24

** Shares of lingerie maker Victoria's Secret VSCO.N up 3.2% at $23.51 premarket

** Co adopts "poison pill" shareholder rights plan after Australian billionaire Brett Blundy's investment firm increases stake in VSCO

** Victoria's Secret is issuing one right for each share of common stock on May 29, says right will become exercisable if any person acquires 15% or more of outstanding common stock

** Says once exercisable, holders of right can acquire shares of co at 50% discount, or co may exchange each right for one share of common stock, and that the plan expires in one year

** Up to last close, stock has fallen 45% YTD

 (Reporting by Neil J Kanatt in Bengaluru)

 ((Neil.JKanatt@thomsonreuters.com;))