The Case Beyond Time

Authors

Lyman P.Q. Johnson, Washington and Lee University School of LawFollow
David K. Millon, Washington and Lee University School of LawFollow

Document Type

Article

Publication Title

Business Lawyer

Publication Date

1990

Abstract

The Delaware Supreme Court's opinion in Paramount Communications, Inc. v. Time, Inc.' treats several important questions that arise in connection with hostile corporate takeovers. At the same time, it leaves three critical issues unanswered. In this article, we first briefly describe what the Time decision did, comparing Chancellor William Allen's somewhat discursive Chancery Court opinion with the more peremptory ruling of the Supreme Court. Next, we identify three unarticulated but potentially far-reaching implications of both the Supreme Court's and Chancellor Allen's reasoning that threaten to destabilize seemingly settled doctrine governing the conduct of target company management.

Comments

“This information or any portion thereof may not be copied or disseminated in any form or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.”

Recommended Citation

Lyman P.Q. Johnson & David K. Millon, The Case Beyond Time, 45 Bus. Law. 2105 (1990).