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Authors

James S. Zmuda

Document Type

Article

Media Type

Text

Abstract

This Note examines two major Supreme Court cases addressing the conflict between federal and state law governing the use of the tender offer. Congress intended to protect the individual shareholder in making a decision whether to tender shares with voting rights, while balancing the legitimate interests of incumbent management and tender offerors. The Court upset this balance by upholding Indiana's Control Shares Acquisition Act as constitutional in the second of these two cases. This Note will highlight the inconsistencies between the cases, explain the present effect of both, and suggest an approach for states considering the adoption of takeover legislation.

First Page

187

Last Page

236

Publication Date

11-1-1988

Department

College of Law

ISSN

0734-1490

Language

eng

Publisher

Northern Illinois University Law Review

Included in

Law Commons

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