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Ingram Micro Investor Seeks To Halt China's HNA Group $6B Aquisition
By Matt Chiappardi
Law360, Wilmington (May 25, 2016, 8:09 PM ET) — An investor in Ingram Micro Inc. on Wednesday launched a putative class action in the Delaware Chancery Court, seeking to halt a proposed $6 billion merger with a unit of HNA Group Co. Ltd., arguing that the board locked in a lowball deal despite interest from another suitor possibly willing to beat it.
Ingram Micro shareholder Jacob Scheiner argues that the electronics distributor’s board used standstill agreements with a so-called don’t ask, don’t waive provision — a deal-protection clause that prevents suitors that signed confidentiality agreements…
http://www.law360.com/classaction/articles/800545?nl_pk=e61e1934-e3ba-4c2d-abe5-13db16369ae8&utm_source=newsletter&utm_medium=email&utm_campaign=classaction
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