Resisting to the Last Shareholders' Dollar: Takeover Litigation - A Tactical Device
University of South Australia - School of Law; Durham University - Law School
Australian Journal of Corporate Law, Vol. 1, No. 2, pp. 154-169, 1992
In this paper Roman Tomasic and Brendan Pentony attempted to determine the real reasons for takeover litigation through a national series of interviews with those directly involved: lawyers, judges, company executives, regulators and bankers. The results showed that the decision to litigate had more to do with tactical considerations than a desire to determine genuine legal issues. The authors argue that litigation was generally instigated by the directors of target companies in an attempt to delay and frustrate the raider and to keep the offer away from the shareholders.
Number of Pages in PDF File: 16
Keywords: takeover litigation, tactical litigation, legal issues, directors
JEL Classification: K22, M14Accepted Paper Series
Date posted: July 25, 2009
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