Endeavor condemns Mawson poison pill defense amid takeover battle

Core Viewpoint - Endeavor Investor Group criticizes Mawson Infrastructure Group for adopting a stockholder rights plan, viewing it as a move to protect management at the expense of shareholders [1][2]. Group 1: Management Actions - Mawson's implementation of the Rights Plan is seen as a tactic for management to entrench itself rather than addressing ongoing operational underperformance and shareholder value destruction [2][4]. - The rights plan is triggered if an entity acquires 20% or more of the outstanding common stock, allowing other shareholders to purchase shares at a 50% discount [3]. Group 2: Shareholder Impact - Endeavor argues that the Rights Plan impedes constructive voices and shields the current leadership from accountability, ultimately harming shareholders [2][4]. - As of January 30, Endeavor and its affiliates reported a combined ownership of approximately 48% of Mawson's outstanding shares [3]. Group 3: Previous Proposals - The rights plan was implemented after Mawson's board rejected an earlier proposal from Endeavor that included a tender offer and equity financing, which aimed to select a new CEO [4].