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Delaware Chancery Dismisses Globis v. Plumtree

While Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., 506 A.2d 173,184 (Del. 1986) places paramount importance on directors' duty to seek the highest sale price once the board of directors determines their corporation is for sale, the fact that plaintiffs simply point to a less-than-ideal purchase price is not sufficient under Delaware law to trigger heightened scrutiny of the directors' actions during the sale process.

23 minute read February 26, 2008 at 09:20 AM
By
Laurence S. Lese And Charles J. Hill
Delaware Chancery Dismisses Globis v. Plumtree

While Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.,

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