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ROYAL INDUSTRIES, INC. v. MONOGRAM INDUSTRIES, INC.

366 A.2d 839 (1976)

ROYAL INDUSTRIES, INC., a Delaware Corporation, Plaintiff, v. MONOGRAM INDUSTRIES, INC., a Delaware Corporation, Defendant.

Court of Chancery of Delaware, New Castle.

Decided November 10, 1976.

Attorney(s) appearing for the Case

S. Samuel Arsht, Lewis S. Black, Jr., and Lawrence C. Ashby, of Morris, Nichols, Arsht & Tunnell, Wilmington, for plaintiff.

Rodman Ward, Jr., of Prickett, Ward, Burt & Sanders, Wilmington, for defendant.

MARVEL, Chancellor.

The defendant Monogram proposes to offer to purchase from their present holders 3,200,000 shares or 55% of the common stock of the plaintiff Royal for a cash payment of $11 per share (a price allegedly 42% in excess of the current market price for such stock), such offer to become effective, unless restrained, on November 11, 1976. Both corporations, although incorporated in Delaware, have their principal places of business in California, plaintiff...

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