Dorian LPG has adopted a shareholder rights plan, or poison pill, aimed at preventing hostile takeovers.

The New York-listed LPG carrier owner said it will hand common shareholders preferred share purchase rights that will be triggered if a person or company grabs a stake of 15% or more. That would effectively prevent stakes above that level without board approval.

Dorian says the plan does not prevent takeovers but would encourage suitors to negotiate with the board before making an attempt.

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