Magenta Therapeutics adopts stockholder rights plan

Magenta Therapeutics announced that its Board of Directors has unanimously adopted a limited duration stockholder rights plan. The Rights Plan will give the Board sufficient time to conduct its previously announced comprehensive review of strategic alternatives focused on maximizing shareholder value. The Rights Plan has been adopted in order to protect the best interests of the company and its shareholders, help ensure that all interested parties have the opportunity to participate fairly in the strategic review process, and provide the Board and shareholders time to make informed decisions. The Rights Plan is also intended to reduce the likelihood that any person or group gains control of the company through open market accumulations or other tactics and reduce the likelihood that actions are taken by third parties that are not in the best interests of the company and all of its shareholders.