Legal Opinion
Irene Dixon v. Ladish Company Incor
Court of Appeals for the Seventh Circuit
Decided January 26, 2012No. 11-1976PublishedCited by 9 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
In November 2010 Ladish Co. agreed to be acquired by Allegheny Technologies, Inc. The offer for each share of Ladish’s stock was $24 cash plus 0.4556 shares of Allegheny’s stock. At the closing price of Allegheny stock after the merger’s announcement, the package was worth $46.75 per Ladish share, a premium of 59% relative to Ladish’s trading price before the announcement. Investors overwhelmingly approved the transaction, which closed on May 9, 2011. Ladish Co. became ATI Ladish LLC.
Investors’ reactions implied that Allegheny bid too high: the price of its shares…
2Cases cited10 opinions
- Tellabs, Inc. v. Makor Issues & Rights, Ltd.Supreme Court of the United States · 2007
- Elder v. HollowaySupreme Court of the United States · 1994
- Merrill Lynch, Pierce, Fenner & Smith Inc. v. DabitSupreme Court of the United States · 2006
- Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.Supreme Court of Delaware · 1986
- Smith v. Van GorkomSupreme Court of Delaware · 1985
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3Cited by9 opinions
- United States v. Matthew CharlesCourt of Appeals for the Sixth Circuit · 2016
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- Entm't USA, Inc. v. Moorehead Commc'ns, Inc.Court of Appeals for the Seventh Circuit · 2018
- Killian v. Concert Health PlanCourt of Appeals for the Seventh Circuit · 2012
- Data Key Partners v. Permira Advisors LLCCourt of Appeals of Wisconsin · 2013
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