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Article
A Delaware Response to Delaware's Choice
Delaware Journal of Corporate Law (2014)
  • Lawrence A. Hamermesh
  • Norman M Monhait
Abstract
This article is an invited response to Professor Subramanian’s article “Delaware’s Choice.” The article expresses skepticism, for two primary reasons, about the need for the change to Delaware’s takeover statute that Professor Subramanian proposes. First, there is uncertainty that the constitutionality of that statute would be evaluated today under a test as demanding as the one that was applied when the statute was upheld in the late 1980s. Second, citing an earlier article by A. Gilchrist Sparks and Helen Bowers, we question whether a constitutional evaluation of the takeover statute should be limited to data on tender offers that are “hostile to the end,” and whether it is fair to exclude data on tender offers that begin as hostile but ultimately result in a negotiated transaction.
Keywords
  • corporation law,
  • Delaware,
  • takeovers,
  • corporations
Publication Date
2014
Citation Information
Lawrence A. Hamermesh and Norman M Monhait. "A Delaware Response to Delaware's Choice" Delaware Journal of Corporate Law Vol. 39 (2014)
Available at: http://works.bepress.com/lawrence_hamermesh/56/