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24 Jun 2022, 5:00 am by John Jascob
Jason Howard, J.D.In a case that the Delaware Chancery Court described as a cautionary tale about the perils that can befall a board with an even number of directors, in 2022, with a director nomination on the table, the eight-member board of Aerojet Rocketdyne Holdings, Inc., deadlocked on a company slate of nominees, leaving a pending acquisition of the company in limbo and resulting in litigation (In re Aerojet Rocketdyne… [read post]
., across party lines) to issue a complaint to block Lockheed Martin’s vertical acquisition of Aerojet Rocketdyne, in what would have been the FTC’s first defense industry merger litigation in decades.6  Several weeks later, the parties abandoned the transaction, due, in part, to the FTC’s lawsuit.7  The DOJ’s pending litigation of UnitedHealth’s proposed acquisition of Change Healthcare and the FTC’s ongoing review of Microsoft’s… [read post]