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TRUE NORTH COMMUNIC. v. PUBLICIS S.A.

Civil Action No. 16039-NC.

711 A.2d 34 (1997)

TRUE NORTH COMMUNICATIONS INC., a Delaware corporation, Plaintiff, v. PUBLICIS S.A., a French corporation, and Publicis Communication, a French corporation, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: December 23, 1997.

Revised: January 15, 1998.

Attorney(s) appearing for the Case

Kenneth J. Nachbar, Jon E. Abramczyk, Donna L. Culver, and Jessica Zeldin, of Morris, Nichols, Arsht & Tunnell, Wilmington; Robert A. Atkins, Martin London, Danya E. Perry, and Roberto Finzi, of Paul, Weiss, Rifkind, Wharton & Garrison, New York City, and Sidley & Austin, Chicago, IL, for plaintiff.

Robert K. Payson, and Arthur L. Dent, of Potter, Anderson & Corroon, Wilmington; Philip K. Howard, C. William Phillips, and Daniel M. Mandil, of Howard, Darby & Levin, New York City, for defendants.

OPINION

CHANDLER, Chancellor.

Plaintiff True North Communications, Inc. ("True North") seeks preliminary injunctive relief against defendants Publicis S.A. and Publicis Communication (collectively "Publicis"), requiring them to refrain from opposing True North's pending merger with Bozell, Jacobs, Kenyon & Eckhardt, Inc. Publicis is True North's largest shareholder, holding 18.4% of True North's outstanding shares, and it objects to the proposed Bozell...

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