Refining The Adviser Disclosure Dance In Del.

Law360, New York (August 13, 2012, 12:22 PM EDT) -- In recent years, the Delaware courts have delivered numerous decisions focusing on the disclosure of issues and information relating to acquisition targets’ financial advisers in change of control transactions. On initial consideration, rationalizing the case law appears challenging at best. However, when considered as a whole, and with a view toward the underlying transaction process, it may be possible to anticipate how the court might react, and plan accordingly.

Since the landmark 1983 Delaware Supreme Court Weinberger v. UOP Inc. decision, target boards have been advised...
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