He wants shareholders to buy for the long term.

If a well-ordered business were all that mattered, most shareholders would rather buy Microsoft.

Ferruzzi said it would ask shareholders to buy one share at 1,000 lire each for every two shares already held.

The shareholders are buying a ticket to an event that they can attend anytime they wish.

If the shareholders do not buy all the reorganization rights, then the next most junior class has its chance.

Under some poison pills, which take many forms, companies allow their existing shareholders to buy additional stock in the company at a deep discount.

Under the terms of the rights issue, shareholders can buy 7 shares for each 6 they already hold, at a price of 122p per share.

The low-price shares would also be offered if any other shareholder bought more than 15 percent of the company's voting stock.

Existing shareholders can buy the new shares at a fixed price to be set by the Government next month.

The company said shareholders could buy one new share for every four they own, at a price of 155 pence ($2.43) each.