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IN RE INTERNATIONAL JENSEN Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 14,992, County: New Castle County, CourtCode: CC, CourtName: Chancery Court of Delaware, State: DE Delaware, UniqueCaseRef: DE>CC>00014992, Emerson, Injunction, Recoton, Transaction, Bid, Shareholders, Complaint, Argue, Stockholders, Injunctive Relief, Auction, Allege, Adequate, Majority, Approve, Bidder, Reason, Auction Process, Expedite, Scheduling, Preliminary Injunction, Motion, Request, Money Damages, Care , ContentID: 120246284

Case Documents
1 1996-07-16 LETTER OPINION
[ see first page and extracted highlights below  ] ItemID: 114935
6 pages
PDF
Total Documents: 1 document , 6 pages
Price: $ 19.95


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1 . LETTER OPINION

EXTRACTED KEY WORDS
EMERSON
INJUNCTION
DEFENDANTS
RECOTON
TRANSACTION
BID
SHAREHOLDERS
COMPLAINT
COUNSEL
ARGUE
STOCKHOLDERS
INJUNCTIVE RELIEF
AUCTION
ALLEGE
COURT
ADEQUATE
MAJORITY
APPROVE
BIDDER
REASON
AUCTION PROCESS
EXPEDITE
SCHEDULING
PRELIMINARY INJUNCTION
MOTION
REQUEST
MONEY DAMAGES
BUSINESS
CARE
                                 CO~JRT   OF   C H A N C E R Y
                                             


SNIPPETS:
 
  • Shareholders Litigation
  • Tha.t motion was heard yesterday
  • Having consider'ed the arguments presented by counsel
  • at the conferen'ce and in their earlier written submissions, the Court concludes that the
  • P, party's request to schedule an application for a preliminary injunction,
  • adequately remedied by a money damages award.
  • The defendants argue that this is such
  • certajn segment of Jensen's business known as the "OEM business".
  • Jensen's majority shareholders (Mr. Shaw and an affiliate of William Blair & Company,
  • The gist of the plaintiffs' complaint is that a competing bidder, Emerson
  • business) -- specifically $12 per share to the public stockholders -- and that by not
  • 1996 Page 3 care to Jensen's public stockholders.
  • plaintiffs ask this Court to prohibit the consummation of the Recoton transaction,
  • Emerson's offer) to approve the Emerson proposal.
  • seeking is the $1 per share difference between the Emerson and Recoton proposals.
  • is that the defendants have disloyally favored one bid over a superior bid
  • as to that claim no injunctive relief is needed because
  • exculpatory charter clauses, a far more adequate, legally supported presentation would be
  • injunctive relief alone merits the scheduling of their application.
  • The reason, plaintiffs
  • no one can predict the outcome of a new auction (which might result in a bid differential
  • The complaint does allege that the auction process was flawed,
  • the motion to expedite is denied.
  •    |