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GELCO CORP. v. CONISTON PARTNERS

Civ. No. 3-86-847.

652 F.Supp. 829 (1986)

GELCO CORPORATION, a Minnesota corporation, Plaintiff, and The State of Minnesota by Hubert H. Humphrey, III, its Attorney General, Plaintiff-Intervenor, v. CONISTON PARTNERS; GEL Associates; Paul E. Tierney; Keith R. Gollust; Augustus K. Oliver; Gollust, Tierney and Oliver, Inc., Defendants and Counterclaimants, and GEL ACQUISITION CORPORATION, Counterclaimant, and Cubit Corporation, Counterclaimant-Intervenor, v. GELCO CORPORATION; Samuel D. Addoms; Neil E. Goldschmidt; Harold I. Grossman; Michael J. Morris; Clarence W. Spangle; Jaye F. Dyer; William F. Foss; Andrew C. Grossman; Mark H. Willes; Jack J. Crocker; N. Bud Grossman; M.D. McVay; Sam Singer; and The State of Minnesota by Hubert H. Humphrey, III, its Attorney General, Counterclaim Defendants.

United States District Court, D. Minnesota, Third Division.

November 10, 1986.

Attorney(s) appearing for the Case

George F. McGunnigle, Jr., Leonard, Street and Deinard, Minneapolis, Minn., Andrew Sussman, William Frelich, Gregory Joseph, Fried, Frank, Harris, Shriver & Jacobson, New York City, for plaintiff.

Irwin H. Warren, Weil, Gotshal & Manges, New York City, Jerry Simon, Mann, Green, Hayes, Simon, Johanneson & Brehl, St. Paul, Minn., for defendants.

Alan Gilbert, Barry Greller, Minn. Office of Atty. Gen., St. Paul, Minn., for plaintiff-intervenor.

RENNER, District Judge.

Before the Court is Counterclaimants' motion for a preliminary injunction to enjoin Counterclaim-defendants, and all persons acting in concert with them, from taking any action to enforce or apply provisions of the Minnesota Control Share Acquisition Act, Minn.Stat. § 302A.671, to, against, or with respect to Counterclaimants' pending tender offer for Gelco shares.1 Argument was heard on November 3, 1986 and...

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