Question: Over a period of several years the Curtiss Wright Corporation
Over a period of several years, the Curtiss Wright Corporation (Curtiss Wright) purchased 65 percent of the stock of Dorr Oliver Incorporated (Dorr Oliver). Curtiss Wright’s board of directors decided that a merger with Dorr Oliver would be beneficial to Curtiss Wright. The board voted to approve a merger of the two companies and to pay $ 23 per share to the stockholders of Dorr Oliver. The Dorr Oliver board and 80 percent of Dorr Oliver’s shareholders approved the merger. The merger became effective. John Bershad, a minority shareholder of Dorr Oliver, voted against the merger but thereafter tendered his 100 shares and received payment of $ 2,300. Bershad subsequently sued, alleging that the $ 23 per share paid to Dorr Oliver shareholders was grossly inadequate. Can Bershad obtain minority shareholder appraisal rights? Bershad v. Curtiss Wright Corporation, 535 A. 2d 840, 1987 Del. Lexis 1313 (Supreme Court of Delaware)
Answer to relevant QuestionsMobil Corporation (Mobil) made a tender offer to purchase up to 40 million outstanding common shares of stock in Marathon Oil Company (Marathon) for $ 85 per share in cash. It further stated its intentions to follow the ...Jennifer, Martin, and Edsel form a limited liability company called Big Apple, LLC, to operate a bar in New York City. Jennifer, Martin, and Edsel are member managers of the LLC. One of Jennifer’s jobs as a member manager ...The Southland Corporation (Southland) owned the 7 Eleven trademark and licenses franchisees to operate convenience stores using this trademark. Each franchise is independently owned and operated. The franchise agreement ...Leslie Neadeau was the president of T. O. N. M. Oil & Gas Exploration Corporation (TONM). Charles Lazzaro was a registered securities broker employed by Bateman Eichler, Hill Richards, Inc. (Bateman Eichler). The stock of ...George Carlin, a satiric humorist, recorded a 12 minute monologue called “Filthy Words.” He began by referring to his thoughts about “the words you couldn’t say on the public airwaves” and then proceeded to list ...
Post your question