Del. Opinion To Inform Future Freeze-Out Mergers

Law360, New York (August 11, 2010, 1:48 PM EDT) -- Most observers would agree that when it comes to freeze-out merger transactions, Delaware law is all over the map and often divorced from business or economic reality.

Vice Chancellor J. Travis Laster, in two recent opinions in In re CNX Gas Corp. Shareholders Litigation, case number 5377-VCL, has effected a synthesis of the cases determining a rule to apply to these types of transactions. (Opinions of May 25, 2010, and July 5, 2010). Although the Supreme Court of Delaware declined the vice chancellor’s invitation to review...
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