In Brief : Fairchild in Anti-Takeover Move

WASHINGTON — Fairchild Industries Inc. today announced it has taken additional steps to protect itself from a takeover, including paying $75 million to repurchase stock and other securities from the Soros group, its largest share owner.

George Soros and Harvey Karp agreed to resign from Fairchild’s board of directors, and each member of the group agreed not to buy Fairchild stock for 10 years as part of the deal, the Chantilly, Va.-based aerospace company announced.

In addition, Fairchild said it was selling 1.6 million shares of stock to its own employee stock ownership plan, using the shares that it is buying from the Soros group.

The sale will mean that employee plans will have 23% of the company’s common stock and 19% of the outstanding voting power.