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New Delaware Law Allows Mergers to Close Quickly

Date Posted: 11/21/2013

For decades, business planners have been drawn to Delaware to form business entities. While Delaware’s popularity as a jurisdiction for formation is attributable to a number of factors, most business planners would note the quality of the State’s bench and bar, the entrepreneurial nature of the state government and a General Assembly that is committed to annually updating the business statutes to ensure that they remain state-of-the-art. In 2013, like most years, the Delaware General Assembly passed legislation updating and improving Delaware’s business statutes. One particular legislative change, the adoption of new Section 251(h) to the Delaware General Corporation Law, provides business planners with a new (and novel) way to effect certain corporate mergers.

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*The views expressed in these articles are solely those of the authors and should not be attributed to the authors' firms, clients, places of employment, or employers, or to the Delaware Department of State or the State of Delaware, nor do they necessarily represent positions that the authors' law firms or employers might assert in litigation on behalf of clients unless an article specifically so states. While the articles are intended to accurately describe certain areas of the law, they are not intended to be and should not be construed as legal advice. If legal advice or other professional assistance is required, the services of a competent professional person should be sought.

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