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

April 4, 2024, 1:52 PM UTCUpdated: April 4, 2024, 7:48 PM UTC

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 ...

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