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WEINBERGER v. RIO GRANDE INDUSTRIES, INC.

519 A.2d 116 (1986)

William B. WEINBERGER, Plaintiff, v. RIO GRANDE INDUSTRIES, INC., Harry Blundell, W.K. Coors, W.J. Holtman, Gerald H. Phipps, G.B. Aydelott, John Evans, Jr., Roy W. Simmons, William Thayer Tutt, David P. Gardner, Charles H. Leavell, D.E. Provost, Mayfield R. Shilling, the Anschutz Corp. and TAC Acquisition Corp., Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: October 22, 1986.

Attorney(s) appearing for the Case

Norman M. Monhait of Morris & Rosenthal, P.A., Wilmington and Patricia I. Avery and Benedict Wolf of Wolf, Popper, Ross, Wolf & Jones, New York City, for plaintiff.

Edward P. Welch of Skadden, Arps, Slate, Meagher & Flom, Wilmington, for Rio Grande defendants.

Charles F. Richards, Jr., Jesse A. Finkelstein and Nathan B. Ploener of Richards, Layton & Finger, Wilmington and William Rosoff of Davis, Polk & Wardwell, New York City, for defendant TAC Acquisition Corp.

OPINION

JACOBS, Vice Chancellor.

This is a class action arising out of a merger whereby Anschutz Corporation ("Anschutz"), in a two-step transaction commencing with a cash tender offer, acquired Rio Grande Industries, Inc. ("Rio Grande") in October, 1984. The class consists of the common stockholders of record of Rio Grande as of October 1, 1984, the date on which the proposed transaction was announced. The defendants...

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