Lessons On Conflicted-Party Transactions From NC Ruling

By Eric Pearson, Beth Boland and Philip Babler (January 27, 2022, 4:48 PM EST) -- The North Carolina Supreme Court recently concluded that shareholders dissenting from Reynolds American Inc.'s 2017 merger with British American Tobacco were not entitled to more consideration than the deal price — even in a conflicted-party transaction where the acquirer already owns a significant stake in the target corporation and publicly announces its opposition to consideration of alternative transactions....

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