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CRANE CO. v. ANACONDA CO.

39 N.Y.2d 14 (1976)

In the Matter of Crane Co., Respondent, v. Anaconda Company, Appellant.

Court of Appeals of the State of New York.

Decided February 19, 1976.

Attorney(s) appearing for the Case

Edward C. McLean, Jr., Michael C. Gilbert and Terry A. Thompson for appellant.

John J. Loflin, R. Scott Greathead and Mark J. Lawless for respondent.

Chief Judge BREITEL and Judges JASEN, GABRIELLI, JONES, FUCHSBERG and COOKE concur.

WACHTLER, J.

In August, 1975 respondent Crane Company, an Illinois corporation, publicly announced a proposed offer to exchange up to 100 million dollars in subordinated debentures for as many as 5 million shares of common stock of the appellant Anaconda Company, a Montana corporation. This offer was vigorously opposed by Anaconda's management which sent four letters...

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