• Delaware Supreme Court Reverses an Order of the Delaware Court of Chancery that Would Have Allowed a Merger Transaction to Proceed Despite a Controversial "Deal Protection" Measure
  • November 18, 2003
  • Law Firm: King & Spalding LLP - Atlanta Office
  • On December 10, 2002, in a 3-2 decision, the Delaware Supreme Court reversed an order of the Delaware Court of Chancery that would have allowed a merger transaction to proceed despite a controversial "deal protection" measure, the effect of which was to assure stockholder approval of the transaction even in the face of a higher competing offer from an unsolicited third party.