Supply Chain Council of European Union | Scceu.org
Procurement

Del. Chancery Dismisses Suit Over $1.1B Calgon-Kuraray Deal

by scceu0385

By Jeff Montgomery (May 31, 2022, 7:58 PM EDT) — A Calgon Carbon Corp. stockholder challenge to the company’s $1.1 billion sale to a Japan-based multinational in March 2018 ended with a dismissal in Delaware Chancery Court on Tuesday, after a vice chancellor rejected claims of deal disclosure failures and tainted negotiations.

The 50-page decision by Vice Chancellor Morgan T. Zurn found the Teamster Members Retirement Plan failed to show that Kuraray Co. Ltd. and Kuraray Holdings USA Inc. acquired the Pittsburgh-based activated carbon giant for an unfair price despite being the lone bidder for the business.

The $21.50 per share final price was 62.9% more than the company’s unaffected share…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related posts

The Surprising Way Companies Can Shore Up Their Financial Strength – The Wall Street Journal

scceu

GAM accused of accounting ‘misstatement’ by Swiss bourse

scceu

CYTTA Corp Announces Company’s Plans to Grow Revenue and Become a Fully Reporting ‘34 Act Company Other OTC:CYCA

scceu