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GRAND METROPOLITAN PLC v. PILLSBURY CO.

Civ. A. No. 88-555 LON.

704 F.Supp. 538 (1988)

GRAND METROPOLITAN PLC and Wendell Investments Limited, Plaintiffs, v. The PILLSBURY COMPANY, Defendant.

United States District Court, D. Delaware.

November 1, 1988.

Attorney(s) appearing for the Case

R. Franklin Balotti, C. Stephen Bigler, Nathan B. Ploener, and Robert J. Shaughnessy, of Richards, Layton & Finger, Wilmington, Del.; Cravath, Swain & Moore, of counsel, for plaintiffs.

Stephen J. Rothschild, Stuart L. Shapiro, Randolph K. Herndon, David J. Margules, Wilmington, Del., and George A. Zimmerman, and Joseph Guglielmelli, New York City, of Skadden, Arps, Slate, Meagher & Flom, for defendant.

OPINION

LONGOBARDI, District Judge.

On October 4, 1988, Plaintiffs Grand Metropolitan PLC and Wendell Investments Limited (collectively "Grand Met") announced an offer to purchase all the outstanding shares of common stock (the "tender offer") of Defendant The Pillsbury Company ("Pillsbury") at a price of $60.00 net per share and associated rights. Docket Item ("D.I.") 1, ¶ 1. In Count I of its Second Amended Verified Complaint ("Complaint"), D.I. 29...

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