Harrell R. Smith v. Mobil Corporation and Fidelity Union Bank
Court of Appeals for the Fifth Circuit
1Opinion of the Court
JOHN R. BROWN, Circuit Judge:
In this Louisiana diversity case arising out of the series of tender offers which preceded the 1982 Marathon Oil Co.-U.S. Steel buy-out, Harrell Smith appeals the District Court’s grant of summary judgment in favor of appellees Mobil Oil Co. and Fidelity Union Bank. Because we find Smith’s claims to be without merit, we affirm.
Facts
The parties do not dispute the underlying facts of this case. On October 30, 1981, Mobil issued an initial Tender Offer for the purchase of up to 40,000,000 shares of Marathon Oil Co. stock at a price of $85 per share. Tendered shares…
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