Biolase Offers Stockholders a Discount

Biolase Technology Inc. adopted a so-called “poison pill” anti-takeover defense Tuesday that allows current shareholders to buy more stock at a discount if anyone accumulates more than 15% of its shares. Biolase Chairman Federico Pignatelli said the aim is to ensure the board of the San Clemente company has time to consider unsolicited bids carefully, not to discourage fair offers. The company makes cosmetic, dental and surgical products, including a laser-powered water spray billed as a low-pain alternative to standard dental drills. Biolase shares rose 6 cents Tuesday, to $2.06, on the Nasdaq Small Cap Market.