Talos Energy moves to defend against Slim’s share-buying spree

Market value: Slim waves as he arrives at a summit in Monterrey, Mexico. The billionaire’s Grupo Carso acquired a 49.9% stake in Talos’ Mexican unit last year for US$125mil that gives it a slice of the promising Zama oil field. — Reuters

NEW MEXICO: Talos Energy Inc has implemented a so-called poison pill plan in a bid to defend itself against Mexican billionaire Carlos Slim’s repeated share purchases, which have reached 24.1% of the firm.

The company will issue one right per each common share and the rights won’t be exercisable unless a person or group acquires beneficial ownership of 25% or more of the company’s stock without approval of the board, according to a filing.