Abstract

http://ssrn.com/abstract=1695205
 


 



State Competence to Regulate Corporate Takeovers: Lessons from State Takeover Statutes


Alan E. Garfield


Widener University - School of Law

1989

Hofstra Law Review, Vol. 17, 1989

Abstract:     
This Article reveals two very different lessons about state competence to regulate corporate takeovers. The first lesson is that some states are enacting anti-takeover legislation for the protectionist purpose of sheltering large local employers. The Article contends that the appropriate response to this legislation is for courts to invalidate it under the Commerce Clause. The second lesson is that some states, most notably Delaware, are enacting anti-takeover legislation to protect a state’s corporate chartering industry. In this instance, federal preemptive intervention is necessary to ensure that state law does not unduly favor management interests at shareholder expense.

Number of Pages in PDF File: 64

Keywords: corporation law, takeovers, Delaware, constitutional law

JEL Classification: K22

Accepted Paper Series


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Date posted: October 21, 2010  

Suggested Citation

Garfield, Alan E., State Competence to Regulate Corporate Takeovers: Lessons from State Takeover Statutes (1989). Hofstra Law Review, Vol. 17, 1989. Available at SSRN: http://ssrn.com/abstract=1695205

Contact Information

Alan E. Garfield (Contact Author)
Widener University - School of Law ( email )
4601 Concord Pike
P.O. Box 7286
Wilmington, DE 19803-0474
United States
HOME PAGE: http://law.widener.edu
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