Deals
Empire State Building Opponents Expect Judge to Allow Buyout
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Lawyers for investors opposed to a deal to take New York’s Empire State Building public expect a judge to deny their motion to declare illegal a plan to buy them out for $100 a share.
New York State Supreme Court Justice O. Peter Sherwood said during a hearing in Manhattan today that he will rule by the end of tomorrow. Sherwood said state law is “pretty clear” as to the rights of members and non-members of limited-liability corporations to dissent to mergers or consolidations.