Quimbee logo
DMCA.com Protection Status

Unitrin, Inc. v. American General Corp.

651 A.2d 1361 (1995)

Case BriefRelatedOptions
From our private database of 26,900+ case briefs...

Unitrin, Inc. v. American General Corp.

Delaware Supreme Court

651 A.2d 1361 (1995)

Facts

American General Corp. (plaintiff) sought to acquire Unitrin, Inc. (defendant). Unitrin declined. American General made an all-cash tender offer to purchase all of the shares of Unitrin at a 30 percent premium. In response, Unitrin’s board approved a poison pill and authorized a share-repurchase program for up to 10 million shares of outstanding stock. Unitrin’s directors held about 23 percent of Unitrin’s stock. Institutional investors held 42 percent of Unitrin’s stock. American General challenged Unitrin’s board’s decision to implement the share-repurchase program in the Delaware Court of Chancery. The chancery court concluded that the repurchase program was a disproportionate response to American General’s tender offer because it was “unnecessary,” and the court preliminarily enjoined Unitrin from making more repurchases. Unitrin appealed to the Delaware Supreme Court.

Rule of Law

Issue

Holding and Reasoning (Holland, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 541,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 541,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 26,900 briefs, keyed to 983 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 541,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 26,900 briefs - keyed to 983 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership