Legal Opinion
Mobil Corp. v. Marathon Oil Co.
Court of Appeals for the Sixth Circuit
Decided December 23, 1981No. 81-3711PublishedCited by 66 opinions
1Opinion of the Court
ENGEL, Circuit Judge.
On October 30, 1981, Mobil Corporation (“Mobil”) announced its intention to purchase up to 40 million outstanding common shares of stock in Marathon Oil Company (“Marathon”) for $85 per share in cash. Mobil conditioned that purchase upon receipt of at least 30 million shares, just over one-half of the outstanding shares. It further stated its intention to acquire the balance of Marathon by merger following its purchase of those shares.
Marathon directors were concerned about the effects of a merger with Mobil, and they immediately held a board meeting. The directors…
2Cases cited15 opinions
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- Touche Ross & Co. v. RedingtonSupreme Court of the United States · 1979
- Transamerica Mortgage Advisors, Inc. v. LewisSupreme Court of the United States · 1979
- Santa Fe Industries, Inc. v. GreenSupreme Court of the United States · 1977
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3Cited by66 opinions
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- United States v. Alan Scop, Raphael Bloom, Herbert Stone and Jack RingerCourt of Appeals for the Second Circuit · 1988
- Hanson Trust PLC v. ML SCM Acquisition Inc.Court of Appeals for the Second Circuit · 1986
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