Securities Law - Insider Trading - Beneficial Owner May Use Split-Sale Technique to Reduce Short-Swing Profit Liability as an Insider under Section 16(b) of the Securities Exchange Act of 1934 - Reliance Electric Co. v. Emerson Electric Co. - 92 S. Ct. 596 (1972)
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Norris, William C.
FIRST PARAGRAPH(S)|During 1966 the Emerson Electric Company, respondent, negotiated with the Dodge Manufacturing Company concerning a possible merger. Later that year, Dodge notified Emerson that its board of directors had rejected Emerson's merger proposal. Undeterred, Emerson responded in May of 1967 with a cash tender offer to the Dodge shareholders, offering to purchase up to 550,000 shares of Dodge common stock at $63 per share. Dodge defended by announcing plans to merge with the petitioner, Reliance Electric Company...
5 Creighton L. Rev. 328 (1971-1972)
Creighton University School of Law