In re Books a Million Stockholders Litig.

BVLaw
Full Text of Court Cases
October 10, 2016
5942 Book Stores
451211 Book Stores
breach of fiduciary duty
control premium, breach of fiduciary duty, freeze-out merger, minority discount, minority interest, controlling stockholder buyout, going private

In re Books a Million Stockholders Litig.
2016 Del. Ch. LEXIS 154
US
State Court
Delaware
Court of Chancery of Delaware
N/A (plaintiffs); N/A (defendants)
Laster

Summary

Court says special committee’s accepting controlling shareholder’s lower bid over third-party’s higher offer is not sign of bad-faith dealing but of reality that “buyers of corporate control will be required to pay a premium” to acquire the whole company.
In re Books a Million Stockholders Litig.
PDF, Size: 363 KB

See Also

Chancery Recognizes Reality of Control Premium in Third-Party Offers

Court says special committee’s accepting controlling shareholder’s lower bid over third-party’s higher offer is not sign of bad-faith dealing but of reality that “buyers of corporate control will be required to pay a premium” to acquire the whole company.