OMNICARE, INC., Plaintiff,
v.
NCS HEALTHCARE, INC., Jon H. Outcalt, Kevin B. Shaw, Boake A. Sells, Richard L. Osbourne, Genesis Health Ventures, Inc., and Geneva Sub, Inc., Defendants.
Court of Chancery of Delaware.https://leagle.com/images/logo.png
Submitted: October 24, 2002.
Decided: October 25, 2002.
Attorney(s) appearing for the Case
Donald J. Wolfe, Jr., Esquire, Kevin R. Shannon, Esquire, Michael A. Pittenger, Esquire, John A. Seaman, Esquire, Potter Anderson & Corroon LLP, Wilmington, Robert C. Myers, Esquire, Seth C. Farber, Esquire, James P. Smith III, Esquire, David F. Owens, Esquire, Melanie R. Moss, Esquire, Dewey Ballantine LLP, New York, NY, for Plaintiff Omnicare, Inc.
Edward P. Welch, Esquire, Edward B. Micheletti, Esquire, Katherine J. Neikirk, Esquire, James A. Whitney, Esquire, Skadden Arps Slate Meagher & Flom, LLP, Wilmington, Mark A. Philips, Esquire, Megan L. Mehalko, Esquire, H. Jeffrey Schwartz, Esquire, Benesch, Friedlander, Coplan & Aronoff LLP, Cleveland, OH, for Defendants NCS Healthcare, Inc., Boake A. Sells, and Richard L. Osbourne.
Jon E. Abramczyk, Esquire, Morris, Nichols, Arsht & Tunnell, Wilmington, Frances Floriano Goins, Esquire, Thomas G. Kovach, Esquire, Squires, Sanders & Dempsey, LLP, Cleveland, OH, for Defendant John H. Outcalt.
Edward M. McNally, Esquire, Michael A. Weidinger, Esquire, Elizabeth A. Brown, Esquire, Morris, James, Hitchens & Williams, LLP, Wilmington, James R. Bright, Esquire, Timothy G. Warner, Esquire, Spieth, Bell, McCurdy & Newell Co., L.P.A., Cleveland, OH, for Defendant Kevin B. Shaw.
David C. McBride, Esquire, Bruce L. Silverstein, Esquire, Christian Douglas Wright, Esquire, Adam W. Poff, Esquire, Young Conaway Stargatt & Taylor, LLP, Wilmington, Paul Vizcarrondo, Jr., Esquire, Theodore N. Mirvis, Esquire, Mark Gordon, Esquire, John F. Lynch, Esquire Lauryn P. Gouldin, Esquire, Wachtell, Lipton, Rosen & Katz, New York, NY, for Defendants Genesis Health Ventures, Inc. and Geneva Sub, Inc.
Court of Chancery of Delaware.
OPINION
LAMB, Vice Chancellor.
I.
This action arises out of a proposed merger between a Delaware corporation and a Delaware subsidiary of a Pennsylvania corporation. The plaintiff is a rival Delaware corporation that also has made a bid for the target corporation. The complaint alleges that the target corporation's directors breached their fiduciary duties to the target corporation's stockholders. The complaint also seeks a declaratory judgment...
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