CONOCO INC. v. SEAGRAM CO., LTD.

No. 81 Civ. 4029.

517 F.Supp. 1299 (1981)

CONOCO INC., Plaintiff, v. The SEAGRAM COMPANY LTD., Joseph E. Seagram & Sons, Inc., and Jes Holdings, Inc., Defendants. The SEAGRAM COMPANY LTD., Joseph E. Seagram & Sons, Inc., and Jes Holdings, Inc., Counterclaim Plaintiffs, v. CONOCO INC., Ralph E. Bailey, Charles A. Anderson, Howard Blauvelt, Theodore F. Brophy, Charles W. Buek, William H. Donaldson, Nancy Hanks, William A. Hewitt, Robert P. Jensen, Dean R. McKay, Michael B. Morris, Frank Pace, Jr., W. Dewey Presley and James E. Robison, Counterclaim Defendants.

United States District Court, S. D. New York.

July 16, 1981.


Attorney(s) appearing for the Case

Dewey, Ballantine, Bushby, Palmer & Wood, New York City, for plaintiff; Russel H. Beatie, Jr., Michael D. DiGiacomo, Robert C. Myers, Mark Rosenberg, New York City, of counsel.

Simpson, Thacher & Bartlett, New York City, for defendants; Roy L. Reardon, Melvyn L. Cantor, Kenneth R. Logan, Stephen E. Banner, New York City, of counsel.


OPINION

EDWARD WEINFELD, District Judge.

Plaintiff, Conoco Inc., seeks a preliminary injunction to enjoin the defendants ("Seagram") from purchasing shares of Conoco based on a tender offer by Seagram set forth in a Schedule 14D-1 dated June 25, 1981 for the purchase of 35,000,000 shares or 40% of Conoco's common stock at $73 per share in cash. Seagram, which asserted a counterclaim against Conoco and its Board of Directors, has requested that the Conoco...

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