IN RE SOUTHERN PERU COPPER CORP.

C.A. No. 961-CS.

52 A.3d 761 (2011)

In re SOUTHERN PERU COPPER CORPORATION SHAREHOLDER DERIVATIVE LITIGATION.

Court of Chancery of Delaware.

Decided: October 14, 2011.

Revised: December 20, 2011.


Attorney(s) appearing for the Case

Ronald A. Brown, Jr., Esquire , Marcus E. Montejo, Esquire , Prickett, Jones & Elliott, P.A., Wilmington, Delaware; Lee D. Rudy, Esquire , Eric L. Zagar, Esquire , James H. Miller, Esquire , Kessler Topaz Meltzer & Check, LLP, Radnor, Pennsylvania, Attorneys for Plaintiff.

S. Mark Hurd, Esquire , Kevin M. Coen, Esquire , Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware; Alan J. Stone, Esquire , Douglas W. Henkin, Esquire , Mia C. Korot, Esquire , Milbank, Tweed, Hadley & McCloy LLP, New York, New York, Attorneys for Defendants.


OPINION

STRINE, Chancellor.

I. Introduction

This is the post-trial decision in an entire fairness case. The controlling stockholder of an NYSE-listed mining company came to the corporation's independent directors with a proposition. How about you buy my non-publicly traded Mexican mining company for approximately $3.1 billion of your NYSE-listed stock? A special committee was set up to "evaluate" this proposal and it retained well-respected...

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