In a Pickle: Barclays Capital and the Sale of Del Monte Foods (B)

Posted: 4 Feb 2012

See all articles by John C. Coates, IV

John C. Coates, IV

Harvard Law School; European Corporate Governance Institute (ECGI)

Clayton S. Rose

Harvard University - Business School (HBS)

David Lane

Harvard University - Business School (HBS)

Date Written: August 19, 2011

Abstract

The B case describes Laster's ruling and thoughts. Del Monte's board had violated its fiduciary duty to shareholders by allowing Barclays to play a dual role, for the seller and the buyer, that disadvantaged the Del Monte shareholders. Laster saved his most severe criticism for Barclays, suggesting that, among other things, it had misled its client's board.

Learning Objective: To explore the responsibilities that investment bankers as advisors have to their clients, as well as the challenge boards of directors face in properly executing their fiduciary duties. In the B case, the issue of proper remedies for the shareholders can be explored.

Suggested Citation

Coates, John C. and Rose, Clayton S. and Lane, David, In a Pickle: Barclays Capital and the Sale of Del Monte Foods (B) (August 19, 2011). Harvard Business School General Management Unit Case No. 312-004, Available at SSRN: https://ssrn.com/abstract=1998980

John C. Coates (Contact Author)

Harvard Law School ( email )

1575 Massachusetts
Hauser 406
Cambridge, MA 02138
United States

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
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Belgium

Clayton S. Rose

Harvard University - Business School (HBS) ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

David Lane

Harvard University - Business School (HBS) ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

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