CD&R Tells Chancery $1.3B Merger Suit Has No Legs

Law360, Wilmington (November 12, 2019, 9:33 PM EST) -- Private equity firm Clayton Dubilier & Rice LLC told the Delaware Chancery Court on Tuesday that a suit claiming a conflicted process wrongly produced a major windfall from a $1.3 billion merger has no legs because it didn't show the merger process lacked unbiased review.

Shannon Rose Selden of Debevoise & Plimpton LLP, counsel to CD&R and its affiliates, made the point while urging Vice Chancellor J. Travis Laster to dismiss a proposed class suit accusing CD&R of standing on both sides of the transaction.

The suit claimed that the private equity firm used its control as a large NCI Building...

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