	clevite clev amends rights plan clevite industries inc which earlier received a mln dlr takeover offer from j p industries inc jpi said it amended its shareholder rights plan so that certain provisions of the plan cannot occur until the board determines that it is in the best interests of the company and stockholders the plan adopted in december permits clevite to issue shares at half price to existing stockholders and allows stockholders to buy shares of an unfriendly bidder at half price clevite said the amendments by its board effectively mean that the so called flip in and flip over provisions of its rights plan can only be triggered by affirmative board approval the company said it acted inview of the proposed uisition and because certain debt restrictions could block its ability to redeem the rights reuter 
