[DOWNLOAD] "Louis S. Gimbel v. Signal Companies" by New Castle Court of Chancery of Delaware # eBook PDF Kindle ePub Free

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eBook details

• Title: Louis S. Gimbel v. Signal Companies
• Author : New Castle Court of Chancery of Delaware
• Release Date : January 10, 1974
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 83 KB

Description

QUILLEN, Chancellor: This action was commenced on December 24, 1973 by plaintiff, a stockholder of the Signal Companies, Inc. (Signal). The complaint seeks, among other things, injunctive relief to prevent the consummation of the pending sale by Signal to Burmah Oil Incorporated (Burmah) of all of the outstanding capital stock of Signal Oil and Gas Company (Signal Oil), a wholly-owned subsidiary of Signal. 1 The effective sale price exceeds 480 million dollars.* The agreement provides that the transaction will be consummated on January 15, 1974 or upon the obtaining of the necessary governmental consents, whichever occurs later, but, in no event, after February 15, 1974 unless mutually agreed. The consents evidently have been obtained. On Monday, December 24, 1973, on the occasion of the plaintiff's application for a temporary restraining order, counsel for Signal and Signal Oil reported to this Court that the parties would not consummate this transaction prior to this Court's decision on the plaintiff's application for a preliminary injunction or January 15, 1974, whichever should occur first.

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