Legal experts who focus on the Delaware Court of Chancery’s blistering criticism of two separate chief executive officers in recent opinions are missing the decisions’ point, two corporate attorneys say. The real focus in these disputes, they said, is the court’s willingness to let the shareholders determine a merger’s fate when no rival bidder emerges.
Twice in the past two weeks, the Chancery Court released opinions in which it blasted separate chief executive officers for alleged self-dealing actions while seeking to sell their companies.
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