Proposed DGCL Amendments to Address Uncertainty

, Delaware Business Court Insider

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The Delaware State Bar Association has proposed legislation that, if adopted, would amend the Delaware General Corporation Law in a number of significant ways. Among other things, the proposed legislation would amend the recently enacted Section 251(h), which facilitates the use of short-form mergers in certain two-step acquisitions, to eliminate the prohibition on the use of Section 251(h) by an "interested stockholder" and to clarify the provisions of Section 251(h) to address certain questions that have arisen in the months since its adoption.

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