Del Monte Sale Delayed

MacFadyen, Ken
February 2011
High Yield Report;2/21/2011, Vol. 22 Issue 8, p3
The article discusses the delay of Del Monte Foods Co.'s sale of stock as of February 2011 by Vice Chancellor Travis Laster of The Delaware Chancery Court. It states that the case highlights problems regarding the practice of mergers and acquisitions in the U.S., and is the second case in less than a year that Laster has ruled against. It reports that the case began in November 2010 when a consortium of three venture capitalists tried to acquire Del Monte for 5.3 billion dollars, a deal brokered by Barclay, whom Laster accused of conflict of interest.


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