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Full-Text Articles in Law
Unocal Revisited: No Tiger In The Tank, Mark J. Loewenstein
Unocal Revisited: No Tiger In The Tank, Mark J. Loewenstein
Publications
No abstract provided.
The Corporate Director's Duty Of Oversight, Mark J. Loewenstein
The Corporate Director's Duty Of Oversight, Mark J. Loewenstein
Publications
No abstract provided.
Recent Judicial Developments In Delaware Takeover Law, Mark J. Loewenstein
Recent Judicial Developments In Delaware Takeover Law, Mark J. Loewenstein
Publications
No abstract provided.
Of Lollipops And Law -- A Proposal For A National Policy Concerning Tender Offer Defenses, Ted J. Fiflis
Of Lollipops And Law -- A Proposal For A National Policy Concerning Tender Offer Defenses, Ted J. Fiflis
Publications
Early last year, Mesa Petroleum Company made a tender offer for shares of Unocal Corporation in an effort to take over Unocal. Unocal responded by using the "lollipop" defense, which is a discriminatory issuer self-tender offer. Unocal's use of this defense resulted in huge economic losses to many of Unocal's small shareholders who were not knowledgeable about the ramifications of their participation or non-participation in the tender offer. The Delaware Supreme Court upheld Unocal's use of this defense as an appropriate exercise of business judgment. A federal district court in California refused to strike down the lollipop under federal law …