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GIBBONS v. SCHENLEY INDUSTRIES, INC.

339 A.2d 460 (1975)

E. F. GIBBONS et al., Petitioners, v. SCHENLEY INDUSTRIES, INC., Respondent.

Court of Chancery of Delaware, New Castle.

Decided May 16, 1975.

Attorney(s) appearing for the Case

Bruce M. Stargatt and Jack B. Jacobs of Young, Conaway, Stargatt & Taylor, Wilmington, and James L. Adler, Jr., of Greenbaum, Wolff & Ernst, New York City, for petitioner Dade & Co.

Howard L. Williams and Edward M. McNally of Morris, James, Hitchens & Williams, Wilmington, and Philip S. Ehrlich of Ehrlich, Allison & Rovens, San Francisco, Cal., for petitioner Bank of America.

William O. LaMotte, III, of Morris, Nichols, Arsht & Tunnell, Wilmington, and Leon Silverman and Marc P. Cherno of Fried, Frank, Harris, Shriver & Jacobson, New York City, for respondent Schenley Industries, Inc.

MARVEL, Vice Chancellor:

Approximately two hundred and fifty former minority stockholders of Schenley Industries, Inc., whose rights as stockholders have been abolished (except for their right to have their shares of stock appraised) as a result of the June 17, 1971 merger here complained of, now seek a review of an appraisal of their shares made by a Court-appointed appraiser. Such stockholders having made timely and otherwise adequate objection to such merger as...

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