CAMBRIDGE, ON, June 30, 2023 /CNW/ - ATS Corporation (TSX: ATS) and (NYSE: ATS) ("ATS" or the "Company"), an industry-leading automation solutions provider, today announced that the board of directors of the Company (the "Board") has approved the adoption of a shareholder rights plan (the "Rights Plan") pursuant to a shareholder rights plan agreement entered into with Computershare Investor Services Inc., as rights agent, dated June 30, 2023 (the "Effective Date"). The Rights Plan is substantially similar to shareholder rights plans adopted by other dual-listed Canadian public companies and is not being adopted in response to any specific proposal to acquire control of the Company, and the Board is not aware of any pending or threatened take-over bid for the Company. The Rights Plan has been adopted to ensure, to the extent possible, that all shareholders of the Company are treated fairly in connection with any takeover bid for the Company and to protect against "creeping bids", which involve the accumulation of more than 20% of the Company's common shares through purchases exempt from applicable take-over bid rules.
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