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Glassman v. Unocal Exploration Corp.
Citation:
777 A.2d 242 (2001)Only StudyBuddy Pro offers the complete Case Brief Anatomy*
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Unocal Corporation owned approximately 96% of the stock of Unocal Exploration (UCX). In December 1991, the boards of each company appointed special committees to consider a possible merger. UXC’s special committee retained financial and legal advisors, met four times, and agreed to a merger exchange ratio where .54 Unocal shares would be issued for each UXC share. They announced their agreement to February 24, 1992 and carried it out pursuant to Delaware’s short-form merger provision.
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