SunLink Health Systems Inc. (SSY)

[9HikeDiscGolf]

Up 28%

10:20 AM EST, 02/24/2014 (MT Newswires) -- Sunlink Health Systems (SSY) was up more than 12% in early trade after saying it has adopted a new shareholder rights plan intended to "encourage fair treatment of shareholders should a take-over bid be made" for the company.
The operator of hospitals and related businesses said the plan will only come into effect if someone acquires, or announces its intention to acquire, 20% or more of the company's shares. If that happens, a rights holder will be entitled to buy shares at "a substantial discount" to the market price at the time. The company didn't provide details as to the size of the discount. Nor did it say if there was any indication that a buyer was looking at the company.
The stock recently traded at $1.32, off its session high so far of $1.39, in a 52-week range of $0.51 - $1.88.
Price: 1.32, Change: +0.15, Percent Change: +12.5
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