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COLONIAL REALTY CORP. v. REYNOLDS METALS CO.

185 A.2d 754 (1962)

COLONIAL REALTY CORPORATION, a corporation of the State of Delaware, et al., Plaintiffs, v. REYNOLDS METALS COMPANY, a corporation of the State of Delaware, Defendant.

Court of Chancery of Delaware, New Castle.

November 21, 1962.

Attorney(s) appearing for the Case

Aubrey B. Lank, of Theisen & Lank, Wilmington, for plaintiffs.

Aaron Finger, of Richards, Layton & Finger, Wilmington, for defendant. Gustav B. Margraf, Richmond, Va., of counsel.

SHORT, Vice Chancellor.

This is a merger appraisal action. It is now before the court on defendant's motion for summary judgment.

On April 18, 1961, the board of directors of defendant Reynolds Metals Company, a Delaware corporation (Reynolds), and the board of directors of Tilo Roofing Company, Inc., a Delaware corporation (Tilo), entered into an agreement of merger, subject to stockholders' approval, for merging Tilo into Reynolds. A special meeting of Reynolds...

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