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ROHN INDUSTRIES v. PLATINUM EQUITY LLC

No. 591, 2005.

911 A.2d 379 (2006)

ROHN INDUSTRIES, INC., Rohn, Construction, Inc., Rohn Products, Inc., Rohn De Mexico, S.A. De C.V., Rohn, Inc., and Rohn Installation Services, Inc., Plaintiffs Below Appellants, v. PLATINUM EQUITY LLC and Pfrank LLC, Defendants Below Appellees.

Supreme Court of Delaware.

Decided: October 20, 2006.

Attorney(s) appearing for the Case

Daniel V. Folt, John H. Newcomer, and Matt Neiderman, Duane Morris, L.L.P., Wilmington, DE; John J. Soroko (argued), admitted pro hac vice for appellants.

Peter J. Walsh, Jr. and Sarah E. DiLuzio, Potter Anderson & Corroon, L.L.P., Wilmington, DE; Kevin S. Reed (argued), admitted pro hac vice for appellees.

Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the court en banc.

STEELE, Chief Justice.

Platinum Equity LLC ("Platinum") scheduled to acquire certain of Rohn Industries, Inc.'s ("Rohn") assets before the end of 2002, terminated an Asset Purchase Agreement with Rohn under a provision that allowed for termination if Platinum determined in good faith that there was a reasonable basis in law and in fact to conclude that Platinum could reasonably be anticipated to incur any material asbestos related liability after consummating the...

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