Takeaways From Del. High Court's MFW Ruling

Law360, New York (March 18, 2014, 9:55 PM EDT) -- In a significant case of first impression, the Delaware Supreme Court, in Kahn v. M&F Worldwide Corp. (M&F Worldwide), No. 334, 2013 (Del. Mar. 14, 2014), unanimously affirmed that a controller’s buyout of its subsidiary in a negotiated merger is entitled to judicial review under the deferential “business judgment” standard — instead of the exacting “entire fairness” standard — if certain procedural safeguards are locked in place at the outset of the transaction. 

In doing so, the Delaware Supreme Court answered an important 20-year old question...
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