SAMJENS PARTNERS I v. BURLINGTON INDUSTRIES, INC.

No. 87 Civ. 3721 (SWK).

663 F.Supp. 614 (1987)

SAMJENS PARTNERS I and Samjens Acquisition Corp., Plaintiffs, v. BURLINGTON INDUSTRIES, INC., BI/MS Holdings, Inc., BII Acquisition Corp., Frank S. Greenberg, Donald R. Hughes, Lanty L. Smith, Joseph F. Abely, Jr., Joseph W. Barr, Michael J. Dargan, John P. Harbin, John J. Horan, Frank S. Jones, William A. Klopman, John K. McKinley, Paul J. Rizzo and Louis Von Planta, Defendants.

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

June 22, 1987.


Attorney(s) appearing for the Case

Paul, Weiss, Rifkind, Wharton & Garrison by George P. Felleman, Jay Greenfield, New York City, for plaintiffs.

Davis Polk & Wardwell by Arthur F. Golden, John G. Rich, David G. Golden, David D. Brown, IV, Julie R. O'Sullivan, New York City, for defendants, Burlington Industries and individual defendants.

Shearman & Sterling by Kenneth M. Kramer, Dennis P. Orr, David J. Mark, Kenneth A. Freeling, Barbara J. Gould, New York City, for defendants, BI/MS Holdings, Inc. and BII Acquisition Corp.


MEMORANDUM OPINION AND ORDER

KRAM, District Judge.

Plaintiff Samjens Partners I ("Samjens") is a partnership which as of May 5, 1987 owned approximately 13 percent of Burlington's outstanding common stock. Plaintiff Samjens Acquisitions Corporation is a wholly owned subsidiary of Samjens. On May 6, 1987, Samjens commenced a tender offer for all shares of Burlington Industries, Inc. common stock at $67 per share. Subsequently, Samjens has raised its offer...

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