Delaware Business Court Insider | News
By Tom McParland | February 26, 2018
The Delaware Court of Chancery on Feb. 23 said AOL Inc.'s $4.4 billion sale to Verizon Communications Inc. overvalued the once-powerful media technology company by more than $1.30 per share, in another blow to holdout shareholders looking to exercise their appraisal rights in Delaware.
Delaware Business Court Insider | News
By Tom McParland | January 24, 2018
The Arbitrage Fund on Tuesday filed a petition in the Delaware Court of Chancery seeking appraisal of its stake in Bob Evans Farms Inc., the latest lawsuit to stem from the food producer's $1.5 billion merger with Post Holdings Inc.
Delaware Business Court Insider | Commentary
By K. Tyler O'Connell | January 24, 2018
Stockholder M&A challenges in the Delaware Court of Chancery have declined in the wake of the well-known Trulia (and its federal corollary Walgreens) and Corwin decisions, which respectively reduced incentives for pre-closing M&A challenges by outlining a strict standard of review for disclosure-only settlements; and confirmed that, regardless of whether the process at issue complied with Revlon, transactions approved by an informed and uncoerced stockholder vote are subject to the protections of the business judgment rule.
Delaware Business Court Insider | News
By Tom McParland | January 18, 2018
The Delaware Supreme Court on Wednesday refused to hear an expedited appeal of a Delaware Court of Chancery ruling that denied a defendant's attempt to modify a protective order so it could pursue fraud claims outside of the state.
Delaware Business Court Insider | News
By Tom McParland | December 14, 2017
The Delaware Supreme Court on Thursday panned a vice chancellor's decision to completely disregard the deal price in an appraisal ruling last year that found Michael Dell and private equity firm Silver Lake Partners had shortchanged investors in a going-private merger of Dell Inc. in 2013.
Delaware Business Court Insider | News
By Tom McParland | December 13, 2017
The Delaware Supreme Court on Tuesday narrowly upheld a Delaware Court of Chancery ruling that denied a $50 million bonus payment to former investors in Calistoga Pharmaceuticals Inc. for partial European approval of a new blood-cancer treatment drug.
Delaware Business Court Insider | News
By Tom McParland | December 1, 2017
A Delaware Court of Chancery judge on Friday dealt a major blow to Energy Transfer Equity's bid to recover a breakup fee from a failed merger with The Williams Cos. Inc., saying the pipeline company's decision to walk away from the once-promising deal wiped out most of its claims to the $1 billion payment.
Delaware Business Court Insider | News
By Tom McParland | November 20, 2017
A Delaware vice chancellor on Monday delayed making his ruling on a shareholder suit accusing Straight Path Communications Inc. of allowing its controller to funnel "hundreds of millions" of dollars' worth of assets away from the company as a part of its planned $3.1 billion sale to Verizon.
New York Law Journal | Analysis
By Gail Weinstein, Arthur Fleischer Jr., Philip Richter and Steven Epstein | November 6, 2017
Gail Weinstein, Arthur Fleischer Jr., Philip Richter and Steven Epstein write: After three decades of evolution of an analytical framework for judicial review of board decisions relating to merger and acquisition transactions, the Delaware courts have, in just the last few years, radically transformed M&A law.
Delaware Business Court Insider | News
By Tom McParland | November 3, 2017
The Delaware Court of Chancery on Thursday refused a request by Citadel Plastics Holdings to delay a fraud suit stemming from its $800 million sale to plastics supplier A. Schulman Inc. after federal prosecutors subpoenaed five defendants in a parallel criminal probe, saying it was not yet clear to what extent the two cases would overlap.
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