DGCL Amendments Could Increase Negotiated Tender Offers

Law360, New York (April 12, 2013, 3:03 PM EDT) -- Recently, amendments to the Delaware General Corporation Law (DGCL) have been introduced by the Delaware State Bar Association (Section on Corporation Law) which, if adopted as proposed, should have a meaningful impact on, and lead to the increased use of, two-step public company acquisition structures (i.e., acquisitions effected by means of a first-step tender offer followed by a second-step, or “back-end”, merger). It is expected that these amendments, once approved by the Delaware legislature, will be signed into law by Governor Jack Markell effective Aug. 1,...
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