23andMe
Sometimes a public company has a controlling shareholder who wants to take it private by buying out all of the other shareholders, and that’s always messy. The controlling shareholder will to some extent be negotiating with herself: She will want to buy the company for a low price, but the company’s shareholders will want to get a high price, but she’s the controlling shareholder and can vote for the low price. There are standard solutions to the problem, but they are only partial solutions:
- The company’s board of directors negotiates the deal with the controlling shareholder, and has fiduciary ...