Small business need-to-know and news-to-watch.
Excerpt: My paper concentrates on three issues the Delaware courts have yet to tackle: a target board’s ability to consider a third-party superior offer made in contravention of a standstill; a board’s promise not to waive a standstill; and a board’s ability to grant a “winning” bidder the right to enforce a previously executed standstill against a “losing” bidder. Each of these issues raises a conflict between two fundamental principles
Read full article via Standstills in Change of Control Transactions — The Harvard Law School Forum on Corporate Governance and Financial Regulation.
