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- Title
UNOCAL AT 20: DIRECTOR PRIMACY IN CORPORATE TAKEOVERS.
- Authors
Bainbridge, Stephen M.
- Abstract
The article reassesses the decision of the Delaware Supreme Court for Unocal Corp. versus Mesa Petroleum Co. which favors a target board gatekeeping function in hostile takeovers. It presents the argument both for the pros and cons to the idea of balancing authority and accountability in takeover bids as well as traces the origins of the Unocal standard. It then gives justification to the move of Unocal and evaluates the development of the Delaware corporate law.
- Subjects
DELAWARE; MERGERS &; acquisitions law; CORPORATION law; UNOCAL Corp.; MESA Petroleum Co.; TENDER offers
- Publication
Delaware Journal of Corporate Law, 2006, Vol 31, Issue 3, p769
- ISSN
0364-9490
- Publication type
Article