April 26, 2018

M&A Watch: Who’s the Boss? Minority Stockholders That Exercise Control

配信申込

ジャンプリンクテキスト

 

In two recent cases, the Delaware Court of Chancery provided informative guidance on when stockholders that hold less than 50% of a corporation’s stock are nevertheless considered to be controlling stockholders. This inquiry is critical in the context of a takeover, as transactions with a controlling stockholder may be reviewed under the heightened “entire fairness” standard unless the corporation can demonstrate that it has satisfied the conditions laid out by the Delaware Supreme Court in Kahn v. M&F Worldwide Corp., in which case the transaction will be reviewed under the less stringent “business judgment” standard.

Read the full memo, Who’s the Boss? Minority Stockholders That Exercise Control.

著者等

George Casey

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M&A

+1 212 848 8787

+1 212 848 8787

ニューヨーク

Scott Petepiece

パートナー

M&A

+1 212 848 8576

+1 212 848 8576

ニューヨーク

Alan S. Goudiss

パートナー

紛争解決

+1 212 848 4906

+1 212 848 4906

ニューヨーク

K. Mallory Brennan

パートナー

紛争解決

+1 713 354 4847

+1 713 354 4847

+1 212 848 7657

+1 212 848 7657

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