Del Monte Decision Grows Roots

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).