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UNIVERSAL LEAF TOBACCO CO., INC. v. CONGOLEUM CORP.

No. 77-1159.

554 F.2d 1283 (1977)

UNIVERSAL LEAF TOBACCO COMPANY, INCORPORATED, Appellant, v. CONGOLEUM CORPORATION, Appellee.

United States Court of Appeals, Fourth Circuit.

Decided May 19, 1977.

Attorney(s) appearing for the Case

Herbert M. Wachtell, New York City (Theodore Gewertz, Bertram M. Kantor, Peter D. McKenna, New York City, Stanley M. Gorinson, Washington, D. C., Wachtell, Lipton, Rosen & Katz, New York City, George R. Humrickhouse, John O. Peters, David R. Johnson, Williams, Mullen & Christian, Richmond, Va., on brief), for appellant.

James L. Sanderlin, Richmond (Richard L. Williams, McGuire, Woods & Battle, Richmond, Va., Maurice J. McSweeney, Milwaukee, Wis., Foley & Lardner, Washington, D. C., on brief), for appellee.

Before HAYNSWORTH, Chief Judge, WIDENER and HALL, Circuit Judges.

HAYNSWORTH, Chief Judge:

Universal Leaf Tobacco Company sought and was denied a preliminary injunction preventing Congoleum Corporation from making a tender offer for the outstanding common stock of Universal Leaf. Universal Leaf has appealed from the denial of that preliminary injunction.

Denial of the injunctive relief was predicated upon a finding that the contemplated offering price of $32.50 per share was not likely to produce a tender of more than 10...

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