NACCO INDUSTRIES, INC. and HB-PS Holding Company, Inc., Plaintiffs,
v.
APPLICA INCORPORATED, Harbert Management Corporation, HMC Investors, L.L.C., Harbinger Capital Partners Offshore Manager, L.L.C., Harbinger Capital Partners Master Fund I, Ltd., HMC—New York, Inc., Harbinger Capital Partners Special Situations GP, LLC, Harbinger Capital Partners Special Situations Fund, L.P., APN Holding Company, Inc., and APN Mergersub, Inc., Defendants.
Court of Chancery of Delaware.https://leagle.com/images/logo.png
Submitted: December 10, 2009.
Decided: December 22, 2009.
Attorney(s) appearing for the Case
Michael D. Goldman, Esquire, Stephen C. Norman, Esquire, Brian C. Ralston, Esquire, Kirsten A. Zeberkiewicz, Esquire, Potter Anderson & Corroon LLP, Wilmington, Delaware; Philip Le B. Douglas, Esquire, Mark R. Seiden, Esquire, Laura W. Sawyer, Esquire, Angie Young Kim, Esquire, Jones Day, New York, New York, Attorneys for Plaintiffs NACCO Industries, Inc., and HB-PS Holding Company, Inc., now known as Hamilton Beach, Inc.
Donald J. Detweiler, Esquire, Kelly A. Terrible, Esquire, Titania M. Parker, Esquire, Greenberg Traurig, LLP, Wilmington, Delaware; Holly R. Skolnick Esquire, Eliot Pedrosa, Esquire, Greenberg Traurig, LLP, Miami, Florida, Attorneys for Defendant Applica Incorporated.
David C. McBride, Esquire, Bruce L. Silverstein, Esquire, Martin S. Lessner, Esquire, Christian Douglas Wright, Esquire, Michele Sherretta Budicak, Esquire, Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware; Leslie Gordon Fagen, Esquire, Bruce Birenboim, Esquire, Joyce S. Huang, Esquire, David M. Cave, Esquire, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, New York, Attorneys for Defendants Harbert Management Corporation, HMC Investors, L.L.C., Harbinger Capital Partners Offshore Manager, L.L.C., Harbinger Capital Partners Master Fund I, Ltd., HMC—New York, Inc., Harbinger Capital Partners Special Situations GP, LLC, Harbinger Capital Partners Special Situations Fund, L.P., APN Holding Company, Inc., and APN Mergersub, Inc.
Court of Chancery of Delaware.
OPINION
LASTER, Vice Chancellor.
In 2006, Applica Incorporated embarked on a sale process. Applica initially entered into a merger agreement with NACCO Industries, Inc. Later, Applica terminated its agreement with NACCO and agreed to be acquired by affiliates of Harbert Management Corporation. A bidding contest ensued, which NACCO lost. In this action, NACCO seeks damages and other unspecified relief arising out of its defeated acquisition attempt. NACCO...
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