Replies to post #119866 on DD Support Board and Research Team

[elbiatcho1]

From the TransPerfect wiki:

Employee group forms to protect company

Included in this case has been a campaign waged by a group that calls itself Citizens for a Pro-Business Delaware[29] to lobby the legislature to change the chancery rules regarding the forced sale of a private, well performing company.[30] The group claims over 1200 members.[31] "Citizens " built a website,[32] has run television commercials,[33] taken billboard and newspaper ads, petitioned elected leaders[34] and held press conferences to press the issue of their concern for the jobs that may be lost[31] and the impact this decision would have on Delaware's ability to continue attracting new companies to incorporate in the state.[35]


https://en.wikipedia.org/wiki/TransPerfect

[1manband]

That is strange. I don't know the Company at all. But I doubt the court's ruling will have any effect at all on other companies incorporating in Delaware.

The presence of the Chancery Court is considered by most businesses to be a huge positive for Delaware, not a negative. They understand business and business law substantially better than both other state and federal courts. They also tend to be quicker since they only deal with business cases.

It is difficult to understand the position of the employee group. I wonder if they are just a proxy for one of the two parties in the case, as their claims about economic competitiveness are pretty much BS.

I also don't see how this ruling deviates from similar case law in other courts. The sale process is an auction open to all, including the two current owners. If one or both of the dissenting shareholders thinks the process is unjust, all they need to do is bid for it and buy it themselves. The court order gives them the same opportunity to buy their company at fair value. And, if they do buy it, they can do with it as they want without the other half owner having a say. Seems like a pretty logical solution to the problem to me.