Buyer Beware: The Fiduciary Duties of a Buyer’s Board

This post is by Mark A. Morton of Potter Anderson & Corroon LLP.

Michael Pittenger, Michael Reilly, and I have prepared an article, Buyer Beware: The Fiduciary Duties of a Buyer’s Board, on Vice Chancellor Parsons‘s decision in Energy Partners, Ltd. v. Stone Energy CorpThe article discusses the fiduciary duties of buyer boards and posits that buyer boards may, in the appropriate circumstances, need to bargain for contractual flexibility to deal with jumping bids for the buyer.  The article was published in the Spring 2007 issue of Deal Points, the official publication of the Negotiated Acquisition Committee of the American Bar Association.

The full article is available for download here.  In addition, the article may be found on the Potter Anderson & Corroon website in our publications collection.

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One Comment

  1. francis pileggi
    Posted Thursday, May 24, 2007 at 10:07 pm | Permalink

    Very helpful analysis. Thank you.