MILPITAS, CA -- Does Solectron want to be bought? The top tier EMS firm on Tuesday eased a hypothetical takeover by a possible suitor by killing its stockholder rights plan, otherwise known as a "poison pill" defense.

In a statement Solectron chief executive Michael Cannon said the new policy "reflects the board's continuing commitment to corporate governance best practices."

In its place, the board issued a new policy that any future poison pill would require stockholder approval.

The poison pill is a strategy companies use to avoid hostile takeovers. By ending the plan, Solectron could in theory more easily be acquired.

The new policy gives the board some discretion to adopt a new stockholder rights plan without first seeking stockholder approval. In such a circumstance, the rights plan would need ratification by stockholders within 12 months of adoption, or it would automatically expire.

The move accelerates the expiration of the current stockholder plan to Nov. 27. It had been set to expire in July 2011.

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