Two Recent Delaware Decisions Provide Practical Guidance for Transactions

Locke Lord Partners Stanley Keller, Peter Barrett and Michael Newquist co-authored an article for Deal Lawyers examining two year-end 2018 decisions by the Delaware Court of Chancery that provide practical guidance for issues involved in mergers and other transactions. One decision, Himawan v. Cephalon, Inc., provides clarity on the meaning of “commercially reasonable efforts” and similar commonly used standards of efforts. In Brown v. Kellar, the court addressed the effectiveness of corporate authorizing action.

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