Delaware Court Makes Bear Shareholders Wait

Law360, New York (March 31, 2008, 12:00 AM EDT) -- Two Michigan pension funds reportedly must wait a few more days to know whether their attempt to hold off the buyout of Bear Stearns Cos. by rival JP Morgan Chase & Co. has been successful.

Vice Chancellor Donald Parsons of the Delaware Chancery Court made no immediate ruling Monday on the funds' request to temporarily block a key provision of the takeover bid, saying he plans to issue a written ruling in the coming days, according to Reuters.

The court was “very well aware of the...
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