Michael J. Egan

King & Spalding LLP

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Antitrust & Competition

Delaware Chancery Court Upholds “Sign And Consent” Transaction And Board Process

On September 30, 2011, Vice Chancellor Noble issued an opinion in In re OPENLANE, Inc. Shareholders Litigation[1] that reiterated the permissibility of using a “sign and consent” structure for obtaining stockholder approval of a merger. The OPENLANE decision is also noteworthy as Vice...

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