Bruns v. Rennebohm Drug Stores, Inc.

In this appeal we construe a Stock Alienation Restriction Agreement1 between shareholders *92of Sherman Plaza, Inc. The corporation, and shareholders Richard Bruns and Ernest Bruns, appeal from an order and judgment determining that the Agreement does not apply to the transfer of stock in Sherman Plaza which occurred in the merger of Rennebohm Drug Stores, Inc. and Walgreen Janesville, Inc. We conclude that the Agreement does apply and reverse the judgment.

*93KH

Sherman Plaza, Inc., is a close corporation which was formed in 1960 to develop the Sherman Plaza Shopping Center.2 Fifty percent of the…