[DOWNLOAD] "Marilyn Jedwab v. Mgm Grand Hotels" by New Castle Court of Chancery of Delaware " eBook PDF Kindle ePub Free

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eBook details

• Title: Marilyn Jedwab v. Mgm Grand Hotels
• Author : New Castle Court of Chancery of Delaware
• Release Date : January 31, 1986
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 78 KB

Description

ALLEN, Chancellor MGM Grand Hotels, Inc., a Delaware corporation, (MGM Grand or the Company) that owns and operates resort hotels and gaming establishments in Las Vegas and Reno, Nevada, has entered into an agreement with Bally Manufacturing Corporation, also a Delaware corporation, (Bally) contemplating a merger between a Bally subsidiary and the Company. On the effectuation of such merger, all classes of the Company's presently outstanding stock will be converted into the right to receive cash. Defendant Kerkorian individually and through Tracinda Corporation, which he wholly owns, beneficially owns 69 % of MGM Grand's issued and outstanding common stock and 74 % of its only other class of stock, its Series A Redeemable Preferred Stock (the preferred stock or simply the preferred). Mr. Kerkorian took an active part in negotiating the proposed merger with Bally and agreed with Bally to vote his stock in favor of the merger. Since neither the merger agreement nor the Company's charter contains a provision conditioning such a transaction on receipt of approval by a greater than majority vote, Mr. Kerkorian's agreement to vote in favor of the merger assured its approval.

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