Aspect enters shareholder amendment

Aspect Medical Systems (Norwood, Massachusetts) said that it has entered into an amendment to the shareholder rights plan that it initially adopted in November 2004. The amendment was adopted to align Aspect's rights plan with its recently completed convertible debt offering and its repurchase of a substantial number of the shares of its common stock previously held by Boston Scientific (Natick, Massachusetts).

Aspect's rights plan generally provides that specified shareholder rights will become exercisable if a person, other than an exempted person, acquires beneficial ownership of 17.5% or more of the company's common stock, unless the transaction is approved by Aspect's board of directors. The rights plan previously provided that, solely with respect to Boston Scientific, such threshold would be 28.5% rather than 17.5%. The amendment, adopted on Nov. 1, eliminates the higher threshold for Boston Scientific.

Aspect makes brain-monitoring technology.