Insights & Publications
Diversity & Inclusion
© 2022 Debevoise & Plimpton LLP
Delaware Proposes to Eliminate Need for Stockholder Vote in Most Two-Step Deals
22 March 2013
Proposed new legislation in Delaware, if approved, would permit many bidders for publicly traded Delaware corporations to complete a second-step merger following a tender or exchange offer without a stockholder vote, even if the bidder owns less than 90% of the target’s outstanding voting stock.
The new legislation would in many cases eliminate the need for a time-consuming “long-form” back-end merger, ease the difficulties in acquiring target companies that do not have current audited financial statements and mitigate the particular obstacles that tender offers pose for financial sponsors.
Mergers & Acquisitions
Private Equity Buyouts & Other Investments
Andrew L. Bab
Gregory V. Gooding
William D. Regner
UK Modern Slavery Act Transparency Statement
Debevoise Login (2)
Debevoise Women's Review