Columbus Mills, Inc. v. Kahn

Smith, Justice.

This case involves a challenge to the merger of Columbus Mills, Inc., with and into Carpet Mill Store, Inc. Appellees, minority shareholders in Columbus Mills, sought to enjoin the merger and recover damages from appellants, officers and majority shareholders in both Columbus Mills and Carpet Mill Store, claiming that the offer by Carpet Mill Store to purchase all outstanding shares of Columbus Mills for $43 in effectuation of the merger was “coercive, wrongful,. . .unfair and harmful.” The trial court denied appellees’ motion to enjoin, and the merger was concluded. After the…