Dynamics Corporation of America, Counterdefendant-Appellee v. Cts Corporation, Counterplaintiff-Appellant. State of Indiana, Intervenor-Appellant

POSNER, Circuit Judge.

On March 10 of this year Dynamics Corporation of America, which already owned 9.6 percent of the common stock of CTS Corporation, made a tender offer for another million shares. The offer if accepted would bring its stock holdings up to 27.5 percent of the company. On the same day, Dynamics filed this suit in the federal district court in Chicago; as later amended, the suit sought to enjoin the enforcement of Indiana’s statute regulating takeovers, on the ground that the statute violates the supremacy and commerce clauses of the federal Constitution. When CTS “opted in”…