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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