|
Hewlett Packard Decision Warns Delaware Will Be Tough on Conflicts of Interest
M&A: The Dealmakers Journal
June 1, 2002
As a result of a Delaware judge's decision concerning conflicts of interest among dealmakers and their advisers, attorneys who counsel companies and their advisers on mergers and a wide range of other transactions indicate that they will be intensifying efforts to make sure conflicts don't arise. Dechert partner William Lawlor notes that he expects "much greater sensitivity" to conflicts in the future, especially since M&A-driven consolidation has reduced the number of commercial banks, and most big banks have large shareholding asset management divisions. This creates a situation, he says, where "your underwriter is your banker is your analyst is your stockholder," and "that situation is rife with potential conflict."
|
