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State Takeover and Tender Offer Regulations Post-Mite: The Maryland, Ohio, and Pennsylvania Attempts

45 Pages Posted: 9 Mar 2002  

Stephen M. Bainbridge

University of California, Los Angeles (UCLA) - School of Law

Abstract

Following the Supreme Court's decision in Edgar v. MITE Corp., striking down portions of Illinois' takeover laws, a number of commentators predicted that state efforts to regulate takeovers could no longer be successful. However, a number of states have adopted new laws in the wake of MITE, seeking to provide a continuing role for the states in the tender offer field.

This article examines three such attempts: Maryland, Ohio and Pennsylvania. These three statutes represent a variety of approaches to the problems of takeover regulation and provide a basis for a model of constitutionally permissible state regulation. The article examines the three statutes, and concludes with a suggested analytical model for constitutional adjudication in this context.

JEL Classification: K22

Suggested Citation

Bainbridge, Stephen M., State Takeover and Tender Offer Regulations Post-Mite: The Maryland, Ohio, and Pennsylvania Attempts. Dickinson Law Review, Vol. 90, No. 731, 1986. Available at SSRN: https://ssrn.com/abstract=302178 or http://dx.doi.org/10.2139/ssrn.302178

Stephen Mark Bainbridge (Contact Author)

University of California, Los Angeles (UCLA) - School of Law ( email )

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