Judge Delays Del Monte Sale, Chastises Barclays – CORRECTED/UPDATED
Just when we thought the sale of Del Monte was a done deal, a Delaware judge has stalled the sale. Vice-Chancellor J. Travis Laster of Delaware Chancery Court delayed the shareholder vote on the sale of Del Monte to a KKR-led group until March 7. Laster also enjoined Del Monte and its PE buyers from enforcing a no shop, which prevents the company from seeking out higher offers (this means Del Monte can search out higher offers).
15 February 2011•3 mins read
