Recent MFW-Related Developments in Delaware Courts | Skadden, Arps, Slate, Meagher & Flom LLP
In 2014, the Delaware Supreme Court’s landmark Kahn v. M&F Worldwide Corp. MFW) decision established that the deferential business judgment standard of review could apply to controlling stockholder “squeeze-out” mergers under certain circumstances. Six necessary conditions must be satisfied for a transaction to obtain business judgment review under MFW: (i) the transaction is conditioned ab initio, or “from inception,” on the approval of a special committee and a majority-of-the-minority majority vote; (ii) the special committee is independent; (iii) the special committee is empo...
Source: jdsupra.com