	crazy eddie crzy sets defensive rights crazy eddie inc said its board has adopted a defensive shareholder rights plan and said it has received friendly inquiries on its uisition it said under the plan shareholdrs of record as of april will receive a right to purchase under certain circumstances at a price of dlrs preferred share for each common share held the rights will expire april nine the company said the rights would be exercisable business days after a party were to uire pct or more of crazy eddie common stock or announce a tender or exchange offer that would result in ownership of pct or more crazy eddie said if a party owning pct or more of its stock were to merge into it or if a party were to uire pct or more of crazy eddie stock right holders other than the uiring party would be entitled to uire common shares or other securities or assets with a market value equal to twice the rights exercise price if after a party uired pct or more of its stock crazy eddie were uired or pct of its earnings power or assets sold rightholders other than the uirer would be entitled to buy shares of the uirer s common stock worth twice the rights exercise price the company said crazy eddie said if a party were to uire pct or more of its common stock and then fail to uire crazy eddie within days thereafter rightholders would be entitled to exchange their crazy eddie common stock for subordinated notes of crazy eddie maturing either one year or above a certain dollar limt five years after issuance crazy eddie said adoption of the plan is not in response to any known effort to uire control of it but the company said it has become aware of some possible accumulations of its stock has has received some friendly inquiries reuter 
