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ELCO CORPORATION v. MICRODOT INC.

Civ. A. No. 4605.

360 F.Supp. 741 (1973)

ELCO CORPORATION, Plaintiff, v. MICRODOT INC. and Microdot Investing Inc., Defendants.

United States District Court, D. Delaware.

On Motion to Modify Preliminary Injunction June 6, 1973.

Attorney(s) appearing for the Case

Robert K. Payson, Richard E. Poole of Potter, Anderson & Corroon, Wilmington, Del., Stephen M. Axinn, Stuart L. Shapiro, and William V. Alesi of Skadden, Arps, Slate, Meagher & Flom, New York City, for plaintiff.

Richard L. Sutton of Morris, Nichols, Arsht & Tunnell, Wilmington, Del., John L. Hawkins, and Samuel P. Shaw, Jr., of Shaw, Bernstein, Scheuer, Boyden & Sarnoff, New York City, for defendants.

OPINION

STAPLETON, District Judge:

I. THE BACKGROUND.

On March 6, 1973, Microdot Investing Inc., a Delaware corporation, ("Microdot Investing") made a tender offer for shares of common stock of Elco Corporation, a Pennsylvania corporation, ("Elco"). Microdot Investing is a wholly owned subsidiary of Microdot Inc., a Delaware corporation, ("Microdot"), and was formed by Microdot for the purpose of acquiring and holding Elco common stock. Elco's...

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