Hilton Hotels Corp. adopted a defense against...

Hilton Hotels Corp. adopted a defense against hostile takeovers giving stockholders of the Beverly Hills-based company the right to buy additional shares of newly issued stock if an outsider tries to buy the company. Hilton didn’t say if an unfriendly offer was expected. The defense would be triggered if an outsider bought 20% of the company’s stock or announced a tender offer to shareholders intended to bring it 20% or more of the stock. Stock purchases by Barron Hilton, chairman and chief executive, or by the estate of his father, Conrad N. Hilton, are exempt from the defense. The plan rests on shareholders rights entitling holders to purchase 1/100 of a share of a new series of junior preferred stock for each share of common stock they hold. If the company were bought out, the plan would entitle Hilton shareholders to buy stock in the acquiring company.