Match.com Spin Case Revived in Major Ruling on Insider Deals (2)

Delaware’s top court Thursday rejected billionaire Barry Diller‘s invitation to streamline M&A dealmaking between companies and their controlling stockholders, upholding a legal framework that requires heightened scrutiny of certain insider transactions.

The state’s justices partly reversed a lower court judge’s decision to uphold the transaction that separated Match Group Inc. from Diller’s IAC/Interactive Corp. Their ruling for Delaware’s Supreme Court explicitly preserved a host of protections covering minority investors in a range of deals between a company and its controller.

Read More: Match.com Appeal Hearing Tees Up Major Ruling on Insider Deals

Diller and IAC had argued that the ...