caption Key Delaware Decision in 'Activision' Upends Standard Board Practices for Approving Mergers
This article lays out practice points in response to the Delaware Court of Chancery's recent decision in In Ap-Fonden v. Activision, which opens a new frontier for challenging a board's process in approving mergers. It discusses the significance the decision has on the merger agreement processes as well as what practitioners should consider moving forward as they navigate this decision.
March 21, 2024 at 10:00 AM
18 minute read
In Ap-Fonden v. Activision (Feb. 29, 2024), the Delaware Court of Chancery, in a pleading-stage decision on the defendants' motion to dismiss, declined to dismiss the plaintiff's claims that the merger between Activision Blizzard, Inc. (the "Company") and Microsoft Corporation, which closed in October 2023, was invalid.
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