Legal Opinion
Frantz Manufacturing Co. v. EAC Industries
Supreme Court of Delaware
Decided December 5, 1985PublishedCited by 47 opinions
1Opinion of the Court
CHRISTIE, Chief Justice:
The issues in this case focus on the fiduciary duties of the boards of directors of both a target corporation, Frantz Manufacturing Company (“Frantz”), and an acquiring corporation, EAC Industries (“EAC”), after the acquirer has taken control of the target corporation by use of the shareholder consent procedure of 8 Del.C. § 228. 1
EAC sought a preliminary injunction in the Court of Chancery to nullify the actions taken by the Frantz board to regain control of the corporation. The Frantz board had tried to dilute EAC’s newly acquired control of 51% of the voting stock…
2Cases cited13 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- Unocal Corp. v. Mesa Petroleum Co.Supreme Court of Delaware · 1985
- Levitt v. BouvierSupreme Court of Delaware · 1972
- Pogostin v. RiceSupreme Court of Delaware · 1984
- Moran v. Household International, Inc.Supreme Court of Delaware · 1985
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3Cited by47 opinions
- Blasius Industries, Inc. v. Atlas Corp.Court of Chancery of Delaware · 1988
- Boilermakers Local 154 Retirement Fund v. Chevron Corp.Court of Chancery of Delaware · 2013
- In re Morton's Restaurant Group, Inc. Shareholders LitigationCourt of Chancery of Delaware · 2013
- Beam Ex Rel. Martha Stewart Living Omnimedia, Inc. v. StewartCourt of Chancery of Delaware · 2003
- Carsanaro v. Bloodhound Technologies, Inc.Court of Chancery of Delaware · 2013
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