Law360, New York (March 03, 2011, 8:55 PM ET) -- Delaware's highest court on Thursday upheld Barnes & Noble Inc.'s attempt to block a takeover bid from investor Ron Burkle by using a so-called poison pill provision.
The Delaware Supreme Court backed a lower court's decision, affirming Barnes & Noble's provision that prohibits any single investor — aside from the company's largest shareholder Chairman Leonard Riggio and his family — from owning more than 20 percent of the company.
An opinion did not accompany the high court's ruling that followed oral arguments Wednesday, but the court...
Del. High Court Upholds Barnes & Noble's Poison Pill
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