	telex tc adopts shareholder rights plan telex corp said its board adopted a shareholder rights plan which will allow shareholders to purchase one common share for two dlrs if a hostile group uires pct or more of the company however the company said the plan will not be triggered by purchases pursuant to the dlrs a share tender offer commenced on october by a unit of tlx partners a group controlled by new york financier asher edelman it said the rights will be distributed on a one for one basis to all shareholders as of october and may be redeemed before they become exercisable at five cents per right the company said the rights will expire on the later of february next year or days from the date they become exercisable it said the plan was intended to protect stockholders against any attempt to take unfair advantage of the recent decline in stock prices or to use abusive tactics such as market accumulations which would interfere with its ability to maximize stockholder value the rights become exercisable if any person or group uires pct or more of the company s common stock other than through an all cash tender offer for all outstanding shares at dlrs per share it said the rights will also not become exercisable if the company is uired by a group under an agreement made with its board a spokeswoman told reuters the company would have an official response to edelman s bid by friday oct reuter 
