NEW YORK, June 20 - Luminex said Wednesday its board of directors has adopted a shareholders rights plan designed to prevent hostile takeover bids.

Luminex, an Austin, Texas-based developer of microarray bead technology, said that the decision to adopt the rights plan was not a reaction to any outside attempt to takeover the company.

"The adoption of the rights plan is merely a means of safeguarding against abusive takeover tactics and is not in response to any accumulation of shares or hostile takeover attempt,” Mark Chandler, Luminex’s CEO said in a statement.