When Del. Lays Out Path For CEO Buyouts, CEOs Take It

Law360, New York (June 13, 2013, 8:55 PM EDT) -- When a Delaware judge tells CEOs how to take their companies private and avoid huge litigation risks, it turns out they listen.

The ink is barely dry on a Chancery Court decision that lays out a clear path for conflicted-party transactions to essentially scrub away their conflicts. But already at least one executive has taken the chancellor up on his offer: David Murdock, who on Tuesday launched a $1.5 billion deal for Dole Food Co. Inc. that sticks to the blueprint.

In a cautiously worded announcement,...
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