The Delaware Supreme Court has reversed a Court of Chancery decision that found a pipeline company liable for $690 million last year in a dispute stemming from efforts to take the company’s master limited partnership private.

The majority opinion, written by Chief Justice Collins J. Seitz Jr. and issued Monday, found entities within Boardwalk Pipeline Partners did in fact meet the requirements for taking the company private as set out in an agreement, rather than stretching the bounds of the agreement to bilk unitholders.

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