Delaware Court Enjoins Merger Vote and Deal Protections in Del Monte Buyout
On the eve of the shareholder vote to approve the $5.3 billion leveraged buyout of Del Monte Foods, Vice Chancellor Travis Laster of the Delaware Court of Chancery last night issued a preliminary injunction delaying the vote for 20 days and enjoining Del Monte’s private equity buyers from enforcing the merger agreement’s deal protections pending the vote.
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