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PERLMAN v. PERMONITE MFG. CO.

No. 83-2429.

734 F.2d 1283 (1984)

Mac R. PERLMAN, Sylvia Perlman, and Alan J. Pearlman, Plaintiffs-Appellants, v. PERMONITE MANUFACTURING CO., and Midland Enterprises, Inc., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided June 4, 1984.

As Amended June 19, 1984.

Attorney(s) appearing for the Case

William J. Harte, Chicago, Ill., for plaintiffs-appellants.

Allan E. Lapidus, Vedder, Price, Kaufman & Kammholz, Chicago, Ill., for defendants-appellees.

Before CUMMINGS, Chief Judge, BAUER, Circuit Judge, and FAIRCHILD, Senior Circuit Judge.

BAUER, Circuit Judge.

Effective July 31, 1979, Midland Enterprises Inc., an Indiana corporation, and its wholly-owned subsidiary Enna Enterprises Inc., an Illinois corporation, merged into Permonite Manufacturing Company, an Illinois corporation. Under the merger agreement, Midland shares were converted into Permonite shares. The appellants collectively held forty-eight shares of the total 145 issued and outstanding shares of Midland on July 31. The appellants chose...

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