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Home Q & A Board Humanities Legal Studies
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Jcasp Jcasp
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6 years ago
Utah Light, Inc has a takeover offer from Cal Corp Utah Light is experiencing difficulty with earnings and its share price has dropped from 32 to 19. Cal Corp's offer is for 23 per share. Utah Light's board feels that because of pending plans and developing assets, it should not accept the offer. Must the board accept the offer?
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wrote...
#1
6 years ago
No, the case is a classic illustration of the business judgment rule. The decision is supportable even though others may disagree - the directors are protected.
Jcasp Author
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#2
6 years ago
Passing because of you
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