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Chancellor Strine’s El Paso opinion critical of CEO and Goldman Sachs, provides guidance on M&A conflicts of interest

  • Duane Morris LLP
  • -
  • USA
  • -
  • March 28 2012

Chancellor Strine rebuked Goldman Sachs and El Paso CEO Doug Foshee on the record and agreed with disgruntled shareholders that the sale process was likely tainted by breaches of fiduciary duty, but in the end, the Chancellor declined to enjoin a stockholder vote on the proposed $31 billion acquisition of El Paso by Kinder Morgan