ST. JUDE MEDICAL, INC. v. MEDTRONIC

No. C4-95-183.

536 N.W.2d 24 (1995)

ST. JUDE MEDICAL, INC., Appellant, v. MEDTRONIC, INC., et al., Respondents.

Court of Appeals of Minnesota.

Review Denied October 27, 1995.


Attorney(s) appearing for the Case

Richard Ihrig, Terrence J. Fleming, Michael D. Olafson, Lindquist & Vennum, P.L.L.P., Minneapolis, for appellant.

William Z. Pentelovitch, Richard G. Wilson, Alain M. Baudry, Maslon, Edelman, Borman & Brand, P.L.L.P., Minneapolis, for respondents.

Michael J. Wahoske, David Y. Trevor, Dorsey & Whitney, P.L.L.P., Minneapolis, for amicus curiae Securities Industry Ass'n.

Considered and decided by HUSPENI, P.J., and PETERSON and SCHULTZ, JJ.


OPINION

HUSPENI, Judge.

In seeking to enforce a "termination fee" provision in a proposal to acquire another company, appellant contends the district court erroneously granted summary judgment for respondents. Because we conclude that the termination fee is a valid and enforceable contract, we reverse summary judgment and direct the district court to enter judgment in favor of appellant. We affirm the trial court's dismissal of the unjust enrichment and...

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