[Download] "Belden Corp. v. Internorth" by Illinois Appellate Court — First District (2Nd Division) Judgment Vacated and Cause Remanded # eBook PDF Kindle ePub Free

eBook details

Title: Belden Corp. v. Internorth
Author : Illinois Appellate Court — First District (2Nd Division) Judgment Vacated and Cause Remanded
Release Date : January 10, 1980
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 67 KB

Description

Belden, Inc., filed an action in the Chancery Division of the circuit court to enjoin InterNorth and its wholly owned subsidiary, I N Holdings, Inc. (herein collectively referred to as InterNorth), from proceeding with a tender offer for Crouse-Hinds, Inc. (Crouse). Belden and Crouse had, prior to the tender offer, entered into a contract paving the way for a merger of Belden and Crouse. Belden's action was predicated on the torts of interference with contractual relations and interference with prospective advantage. A number of Belden shareholders were permitted to intervene as representatives of the class of Belden shareholders; the intervenors allege that InterNorth's tender offer interfered with their prospective advantage. The trial court granted the preliminary injunction requested by Belden and the intervenors, and InterNorth has taken this interlocutory appeal. InterNorth is an Omaha-based corporation (chartered in Delaware) that, over the past several months, had been evaluating the possible acquisition of Crouse, a New York corporation based in Syracuse. Unknown to InterNorth, Crouse, for a similar length of time, had been engaged in merger discussions with Belden, a corporation based in Geneva, Illinois (chartered in Delaware). The management of InterNorth had planned to propose, at the September 9, 1980, meeting of the board of directors, that InterNorth undertake a tender offer for a majority of Crouse shares. A few hours before the meeting, InterNorth's management learned that Crouse and Belden had executed, on September 8, 1980, an agreement to merge.