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Law School Case Briefs
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Ivanhoe Partners v. Newmont Mining Corp.
Court of Chancery of Delaware (1987) | 533 A.2d 585; 1987 Del. Ch. LEXIS 494
TL;DR: The court denied a preliminary injunction sought by a hostile bidder (Ivanhoe) against a target company's (Newmont) defensive measures, including a large dividend and a "street sweep" by its largest shareholder (Gold Fields), finding them largely permissible under Delaware law.
Legal Significance: This case clarifies the application of Unocal scrutiny to complex defensive strategies, including dividends and third-party stock accumulations, and distinguishes when Revlon duties are triggered in a takeover context.
