Del Monte Decision Grows Roots

April 12, 2011

I’ve posted  about the investment bankers’ double payout in the Del Monte merger.  Shareholders are now trying to seize on that decision for a beneficial result in the Bank of America/Merrill Lynch merger litigation.

Shareholders and their attorneys are creative, and will cite the Del Monte decision often from now on.  Delaware courts, however, usually take a shareholder friendly decision like Del Monte, and apply its reasoning to new facts, not blindly rule in accordance with the Del Monte decision’s broad principle (that stapled financing is bad).

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