WLR Foods, Inc. v. Tyson Foods, Inc.
United States Court of Appeals for the Fourth Circuit
65 F.3d 1172 (1995)
Tyson Foods, Inc. (Tyson) (defendant) tried to take over WLR Foods, Inc. (WLR) (plaintiff. WLR’s board enacted measures designed to block the takeover. Tyson made and later withdrew a tender offer to WLR’s shareholders on the grounds that WLR’s board had affected the value of WLR stock. Suit was filed in the district court regarding the takeover attempt. The district court concluded that the acts of WLR’s board were legitimate. Tyson appealed those findings to the United States Court of Appeals for the Fourth Circuit.
Rule of Law
Holding and Reasoning (Murnaghan, J.)