Victoria’s Secret Adopts Poison Pill to Thwart Investor BBRC (3)

Victoria’s Secret & Co. announced a shareholder rights plan after an investor began acquiring a substantial amount of stock in the lingerie retailer.

BBRC International Pte Limited, an entity controlled by Brett Blundy, has increased its position to about 13% of outstanding shares and has a history of acquiring controlling interests in retailers, Victoria’s Secret said in a statement.

The plan, which is often called a poison pill, will issue one right for each share at the close of business on May 29 and be triggered if an investor acquires 15% of outstanding common stock. It wasn’t adopted ...