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Fiduciary Duties Of Directors In The Context Of Going-Private Transactions To The Minority Shareholders Under Delaware Law, Yuan Wang

LLM Theses and Essays

This thesis discusses the different fiduciary duties and standards of review imposed by Delaware laws on the directors to the minority shareholders in the going-private transactions structured either as a merger or as a tender offer voluntarily initiated by the controlling In the context of a merger, the disinterested and independent directors will face a duty of care and be subject to the business judgment rule. For the interested or dependent directors, they will bear a duty of loyalty and be bound to the entire fairness standard accordingly. In the case of a tender offer, currently the Delaware courts impose …