Sabre(US:SABR) Prnewswire·2026-03-02 01:30Core Viewpoint - Sabre Corporation has adopted a limited-duration shareholder rights plan to protect its interests and those of its shareholders in response to significant stock accumulation by Constellation Software Inc [1] Group 1: Shareholder Rights Plan - The Rights Plan is effective immediately and will expire in one year, specifically on February 28, 2027 [1] - The plan was adopted after observing unusually high trading volumes in Sabre's stock during the week of February 23 to February 27, 2026 [1] - Constellation Software accumulated a 9.7% economic position in Sabre between April 2025 and November 2025, which includes 4.7% beneficial ownership and 5% via derivative instruments [1] Group 2: Board's Considerations - The Board attempted to reengage with Constellation on February 26 and 27, 2026, but received no response, and Constellation withdrew a nomination for a second candidate on February 28, 2026 [1] - Constellation had previously expressed a desire for its investment in Sabre to mirror its 24.8% position in Asseco Poland S.A. [1] - The Board remains open to resuming discussions with Constellation regarding a negotiated agreement on acceptable terms [1] Group 3: Rights Plan Details - Under the Rights Plan, one right will be issued for each share of common stock as of March 11, 2026, and rights will become exercisable if any person acquires 15% or more of the outstanding common stock [1] - If the rights become exercisable, holders (excluding the triggering person) can acquire shares at a 50% discount or exchange each right for one share of common stock [1] - The Rights Plan does not limit the ability of a future board of directors to redeem the rights and does not aggregate ownership of shareholders acting in concert until they form a group under applicable securities laws [1]