Gaylord Entertainment’s board of directors voted yesterday to limit an individual investor’s stake in the company to 15%.
The action comes one month after Texas billionaire Robert Rowling became Gaylord’s largest shareholder, buying a 14.2% stake in the company. Rowling owns the Omni Hotel chain. After his purchase of Gaylord stock, his holding cojpany released a statement play down speculation of a merger or takeover. The plan Gaylord adopted yesterday is to protect against a hostile takeover.
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