Strine's M&F Worldwide Decision Tees Up Clearwire Fight

Law360, New York (May 30, 2013, 6:25 PM EDT) -- Chancellor Leo E. Strine Jr. handed down a decision Wednesday meant for billionaire investor Ronald Perelman, but it may apply squarely to another case on his docket: the brewing legal battle over Clearwire Corp.

The chancellor ruled that when a company sells out to a controlling stockholder, the deal will be subject to little scrutiny, so long as the board does two things: quickly forms a special committee of independent directors to negotiate on its behalf, and requires a majority of the noncontrolling shareholders to support...
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