Andrews Corporate Officers and Directors Liability Reporter
December 25, 1996
Takeover Law
Copyright (c) 1996 Andrews Publications
JUDGE SAYS CONRAIL CANNOT DELAY MERGER VOTE UNTIL IT IS SURE THAT IT WILL WIN
Norfolk Southern v. Conrail
The board of Conrail does not have a duty to accept the higher merger offer of hostile suitor Norfolk Southern Corp. but it cannot disenfranchise the shareholders by putting off a stockholder meeting until it is sure that it has enough support for a...
JUDGE SAYS CONRAIL CANNOT DELAY MERGER VOTE UNTIL IT IS SURE THAT IT WILL WIN
Norfolk Southern v. Conrail