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True Value PE Buy-In Vote Beats Injunction To Move Ahead

Law360 (April 13, 2018, 4:52 PM EDT) -- True Value Co. won Delaware Chancery Court clearance on Friday to move ahead with a stockholder vote on the sale of a 70 percent stake in the 4,400-store hardware cooperative, after a vice chancellor rejected a stockholder preliminary injunction motion.

The Chicago-based company immediately reported that a majority of proxies already had voted in favor of the deal to sell a majority stake to private equity firm ACON Investments LLC, although votes will continue to be tallied until April 19, after the original April 13 deadline...
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