Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.
Revlon held that once the sale or breakup of the company becomes inevitable, the board's role shifts from defenders of the corporate bastion to auctioneers charged with obtaining the best price reasonably available for shareholders.
Holding
Revlon held that once the sale or breakup of the company becomes inevitable, the board's role shifts from defenders of the corporate bastion to auctioneers charged with obtaining the best price reasonably available for shareholders.
Issues
sale of controlboard duties in sale transactionsfairness of auction process