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SALOMON BROS. v. INTERSTATE BAKERIES

Civ. A. No. 10,054.

576 A.2d 650 (1989)

SALOMON BROTHERS INC., a Delaware corporation, Petitioner, v. INTERSTATE BAKERIES CORPORATION, a Delaware corporation, Respondent.

Court of Chancery of Delaware, New Castle County.

Decided: December 13, 1989.

Attorney(s) appearing for the Case

Lawrence A. Hamermesh, and Alan J. Stone, of Morris, Nichols, Arsht & Tunnell, Wilmington, for petitioner.

R. Franklin Balotti, and James C. Strum, of Richards, Layton & Finger, Wilmington, of counsel: Shook, Hardy & Bacon, Kansas City, Mo., for respondent.

OPINION

BERGER, Vice Chancellor.

This is the decision on a motion for summary judgment brought by Interstate Bakeries Corporation ("IBC"), the respondent in an appraisal proceeding. Petitioner, Salomon Brothers Inc. ("Salomon"), the record and beneficial owner of 122,300 shares of IBC stock, seeks appraisal of those shares in connection with the April 29, 1988 merger of IBC with IBC Acquisition Corporation ("Acquisition"). In the course of discovery, IBC...

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