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LYNCH v. VICKERS ENERGY CORPORATION

351 A.2d 570 (1976)

Libby G. LYNCH, Plaintiff, v. VICKERS ENERGY CORPORATION et al., Defendants.

Court of Chancery of Delaware, New Castle.

January 22, 1976.

Attorney(s) appearing for the Case

Irving Morris of Morris & Rosenthal, Wilmington, and Sidney B. Silverman, Joan T. Harnes, and Martin H. Olesh of Silverman & Harnes, New York City, for plaintiff.

Louis J. Finger of Richards, Layton & Finger, Wilmington, and Robert L. Stern, Leo Herzel, George W. Hamman, and Susan Getzendanner of Mayer, Brown & Platt, Chicago, Ill., for defendants Vickers Energy Corp., Esmark Inc., Richard J. Boushka, Donald P. Kelly, Robert D. Phillips and Jack A. Vickers.

David A. Drexler of Morris, Nichols, Arsht & Tunnell, Wilmington, and William Key Wilde of Bracewell & Patterson, Houston, Tex., for defendants Stormy F. Smith, William A. Alexander and Edward J. Hudson.

MARVEL, Vice Chancellor.

On October 11, 1974, plaintiff, in response to a September 30, 1974 offer of the defendant Vickers Energy Corporation to purchase any and all of the outstanding shares of common stock of its subsidiary, TransOcean Oil, Inc., tendered to the would-be buyer her one hundred shares of common stock of such corporation. At the time such offer was made Vickers was the holder of 53.5% of the issued and outstanding...

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