The Role of States in Tender Offers: An Analysis of CTS

Friday, January 1st, 1988 at 12:00 am by Robert A. Prentice
Robert A. Prentice, The Role of States in Tender Offers: An Analysis of CTS, 1988 Colum. Bus. L. Rev. 1

CTS is an opinion of potentially tremendous importance. The purposes of this article in addressing CTS are four. First, it will set the CTS opinion in context by discussing the history of tender offers and their regulation and litigation. Second, it will analyze the CTS opinion, concluding that the Supreme Court reached the proper result, although it failed to reconcile the holding with MITE and left many unanswered questions. Third, this article will attempt to predict the effect CTS will have on other second and third generation tender offer laws. Finally, the article will comment on the future course of federal and state tender offer regulation.

Author Information

Associate Professor of Business Law, University of Texas at Austin. B.A. 1972, University of Kansas; J.D. 1975, Washburn University.