Struggling retailer J.C. Penney is adopting a plan to prevent a takeover attempt just two days after reporting its sixth straight quarter of big losses and steep revenue declines.
It’s the second time in recent years that the company has put into place a so-called ‘‘poison pill’’ plan.
In October 2010 J.C. Penney enacted the defense after activist investor William Ackman of Pershing Square and Vornado Square Management, chaired by Steve Roth, snapped up large stakes.
The company eventually put both men on its board, a decision that ended badly last week.
Ackman resigned from the board after lashing out at other directors publicly. The two sides hammered out an agreement that will allow Ackman to unload his J.C. Penney stake. Roth is still on the board. Full story for BostonGlobe.com subscribers.