Ingram Micro Investor Seeks To Halt China's HNA Group $6B Aquisition

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Ingram Micro Investor Seeks To Halt China's HNA Group $6B Aquisition

 news 2016-05-26 at 12:21:27 pm Views: 306
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    Ingram Micro Investor Seeks To Halt China's HNA Group $6B Aquisition
    By Matt Chiappardi
    China's HNA Group, of Hainan Airlines, invests in Africa World ...

    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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