[Download] "Cinerama v. Technicolor" by New Castle Court of Chancery of Delaware ~ Book PDF Kindle ePub Free
eBook details
- Title: Cinerama v. Technicolor
- Author : New Castle Court of Chancery of Delaware
- Release Date : January 06, 1994
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 83 KB
Description
MEMORANDUM OPINION ALLEN, Chancellor This action against the corporate directors of Technicolor, Inc. ("Technicolor") and others arises from the negotiation and effectuation of a two step transaction through which a subsidiary of MacAndrews and Forbes Group, Inc. ("MAF"), a Delaware corporation, acquired all of the stock of Technicolor for $23 per share cash. As found in the earlier, lengthy trial of this case, the cash price paid in that transaction represented more than a one hundred percent premium over the prior, unaffected market price of Technicolor stock on the New York Stock Exchange. No member of the Technicolor board was a stockholder, officer or director of any affiliate of MAF, nor was any officer, director or stockholder of MAF a stockholder of Technicolor prior to initiation of the plan of acquisition. Following trial this court concluded that the transaction was negotiated at arm's-length and in a good faith effort to achieve the best financial result for the company's stockholders.