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Business Organizations Keyed to Smith
Unocal Corporation v. Mesa Petroleum Co.
Citation:493 A.2d 946 (1985).
Mesa submitted an offer to Unocal to purchase additional stock. The offer was deemed inadequate by the Unocal board of directors, with the help of outside financial experts. In response to the offer, Unocal adopted a self-tender offer to its shareholders for a much higher value, with Mesa excluded from the offer.
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