Delaware Supreme Court Affirms Criteria for Applying the Business Judgment Rule to Controlling Stockholder Going-Private Transactions - Validates Procedural Safeguards of Special Committee and Non-Waivable Majority of Minority Approval
By EsqSocial Corporation 27/03/14
In Kahn, et al. v. M & F Worldwide Corp., et al., 2014 WL 996270 (Del. Mar. 14, 2014), the Delaware Supreme Court unanimously affirmed that, when certain procedural safeguards are implemented at the outset of negotiations, a controller’s buyout of...
By: Reed Smith