A requirement that the board of directors of a company act in the best interests of shareholders if the company is to be sold. The rule originated as the result of a court case involving the sale of Revlon Inc. in 1985. The court ruled that the directors of the company improperly resisted a hostile takeover and accepted a lower bid from another company.
Related information about Revlon rule:
- Revlon Rule Definition | Investopedia
A legal precedence that dictates if the sale of the company is forthcoming, the main goal the company's board of directors should have is to conduct the ...
- Financial ABC's - Revlon Rule
The so-called Revlon rule is a legal precedent derived from a case involving the sale of Revlon, Inc. (Revlon, Inc. v. MacAndrews & Forbes Holdings, In.
- Revlon Rule: Definition from Answers.com
Revlon Rule A legal precedence that dictates if the sale of the company is forthcoming, the main goal the company's board of directors.
- What is Revlon rule? definition and meaning
Definition of Revlon rule: A requirement that the board of directors of a company act in the best interests of shareholders if the company is to be sold. The rule ...
- Deconstructing Lyondell - New York Law School
between Lyondell and Revlon, Part III, Reconstructing Revlon, will discuss the development of the Revlon rule over the past twenty-five years, particularly the ...
- The Revlon Rule; Duty to Auction | VC Experts
If insiders propose a restructuring which involves defeasing the nonaffiliated Target shareholders, the Revlon rule, based on the decision in Revlon v.
- Auctions and Takeovers - Market Design Inc.
1. New Palgrave Dictionary of Law and Economics, Peter Neuman (ed.), London: MacMillan Press, 1, 122-125, 1998 auctions and takeovers. Under Delaware ...
- Going Private - Arthur M. Borden - Google Books
... Communications person plaintiff Preferred Stock prior proxy statement purchase pursuant reasonable Regulation M-A Revlon Rule 13e-3 transaction Santa ...