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Court Of Chancery Details Application of M&F Worldwide Criteria

Posted In M&A

In re Books-A-Million Inc. Stockholders Litigation, C.A. 11343-VCL (October 10, 2016)

A merger approved in accordance with the criteria set out in the M&F Worldwide decision is subject to the business judgment standard of review, and vulnerable to attack only if its terms are so extreme as to constitute waste. This decision does a good job of explaining how the M&F Worldwide criteria are to be applied to a given set of facts at the motion to dismiss stage.

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