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POLAROID CORP. v. DISNEY

No. 88-3676.

862 F.2d 987 (1988)

POLAROID CORPORATION, Appellant, v. Roy E. DISNEY, Patricia A. Disney, Stanley P. Gold, Shamrock Holdings, Inc., Shamrock Holdings of California, Inc., Shamrock Capital Investors III, Inc., Emerald Isle Associates, L.P., Shamrock Acquisition III, Inc., Appellees.

United States Court of Appeals, Third Circuit.

Decided November 23, 1988.

Attorney(s) appearing for the Case

Paul C. Saunders (argued), Cravath, Swaine & Moore, New York City, R. Franklin Balotti, Gregory V. Varallo, James C. Strum, Daniel A. Dreisbach, Richards, Layton & Finger, Wilmington, Del., O'Sullivan Graev & Karabel, New York City, for appellant.

Pamela Jarvis (argued), Fried, Frank, Harris, Shriver & Jacobson, New York City, A. Gilchrist Sparks, III, Lawrence A. Hamermesh, Kenneth J. Nachbar, Morris, Nichols, Arsht & Tunnell, Wilmington, Del., for appellees.

Before BECKER, HUTCHINSON and COWEN, Circuit Judges.

OPINION OF THE COURT

BECKER, Circuit Judge.

This is an appeal by Polaroid Corporation ("Polaroid") from an order of the district court denying Polaroid's motion for a preliminary injunction against a tender offer for Polaroid stock which, if successful, would vest control of Polaroid in interests controlled by appellees Roy and Patricia Disney. The appeal presents the first impression question of the standing of a target company to assert a violation of...

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