Nathaniel Stuhlmiller is a highly regarded corporate advisor with an exceptional command of the nuances of the Delaware General Corporation Law.
Nate focuses his practice on transactional matters involving Delaware corporations, including mergers and acquisitions, corporate governance, and corporate finance, and providing advice on a variety of fiduciary duty issues.
While his practice involves the full spectrum of Delaware corporate law advice, Nate’s deep expertise and experience in areas requiring specialized skills and knowledge have made him an invaluable counselor to corporations, boards of directors, and investors. These areas include extensive experience in
- negotiating merger agreements,
- ratifying and validating defective corporate acts and putative stock issuances,
- implementing and administering stockholder rights plans, and
- dissolving corporations under Delaware law.
Nate is a trusted advisor to special committees and has substantial experience guiding committee members through the process of negotiating and evaluating controlling stockholder and other conflict transactions.
Nate has published numerous articles and delivered presentations throughout the country on matters involving Delaware corporate law and corporate governance.
- Represented the special committee of the board of directors of Coty Inc. in connection with a tender offer from JAB valued at approximately $1.75 billion
- Represented the special committee of the board of directors of Papa John’s International, Inc. in connection with a $200 million strategic investment with Starboard Value LLP
- Represented the independent committee of the board of directors of T-Mobile US Inc. in connection with the $26.5 billion acquisition of Sprint Corp.
- Represented USG Corporation in connection with its acquisition by Gebr. Knauf KG for approximately $7 billion
- Delaware counsel to numerous investors in Altaba, Inc. regarding court-supervised dissolution under Delaware law
- Represented Owens-Illinois, Inc. in connection with a 251(g) holding company restructuring transaction and related bankruptcy proceedings
- Represented GoHealth, Inc. in its $914 million initial public offering
- Represented Vertex, Inc. in its $401 million initial public offering
- Represented Casper Sleep, Inc. in its $100 million initial public offering
- Represented Herman Miller, Inc. in connection with the ratification and validation of defective corporate acts under Sections 204 and 205 of the General Corporation Law of the State of Delaware
- Represented Swisher Hygiene, Inc. in connection with court-supervised dissolution under Delaware law
- Represented Geomet, Inc. in connection with court-supervised dissolution of the company under Delaware law
- Represented MedCath Corporation in connection with administration of its stockholder rights plan, asset sales, and court-supervised dissolution of the company under Delaware law
- University at Buffalo Law School, J.D., magna cum laude, 2010
Buffalo Law Review, Articles Editor
- Syracuse University, B.S., 2006
Delaware Business Court Insider | November 11, 2020
A traditional stockholder rights plan remains one of the most effective tools a board of directors may use to protect the corporation’s stockholders from the threat of a hostile or abusive takeover. Rights plans often include specific provisions designed to address unique threats or issues facing the corporation. One such provision is an “acting in concert”—or…
Delaware Business Court Insider | November 4, 2020
In In re Altaba, the Delaware Court of Chancery, ruling at a preliminary stage of the dissolution process, authorized Altaba Inc. to make an interim liquidating distribution of up to $4.3 billion to its stockholders. Vice Chancellor J. Travis Laster’s opinion is noteworthy because it is one of the few opinions to authorize an interim distribution…
Delaware Business Court Insider | August 19, 2020
In Kahn v. M&F Worldwide, 88 A.3d 635 (Del. 2014), and its progeny, Delaware courts established that transactions subject to the entire fairness standard of review due to the presence of a conflicted controlling stockholder will nonetheless receive business judgment rule deference if the deal in question is conditioned ab initio on two well-known procedural…
Delaware Business Court Insider | April 29, 2020
The COVID-19 pandemic has caused significant worldwide disruptions of business operations and has negatively impacted stock prices globally. As a result, many corporations find themselves potentially vulnerable to abusive takeover tactics, such as inadequate or coercive takeover proposals and market accumulations by investors seeking to profit from depressed stock prices that may not accurately reflect a…
Delaware Business Court Insider | February 26, 2020
In Ogus v. SportTechie, C.A. No. 2018-0869-AGB. (Del. Ch. Jan. 31, 2020), the Delaware Court of Chancery refused to dismiss portions of seven claims brought by the jilted founder of SportTechie Inc. against corporate insiders and investors related to his removal from office and the purported repurchase of his equity stake in the company.…
Delaware Business Court Insider | February 28, 2018
In three recent memorandum opinions, Southpaw Credit Opportunity Master Fund v. Roma Restaurant Holdings (Del. Ch. Feb. 1, 2018), CompoSecure v. CardUX (Del. Ch. Feb. 1, 2018, revised Feb. 12, 2018), and In re Oxbow Carbon Unitholder Litigation (Del. Ch. Feb. 12, 2018), the Delaware Court of Chancery revisited the distinction between void…
Delaware Business Court Insider | February 22, 2017
In Corwin v. KKR Financial Holdings, 125 A.3d 304 (Del. 2015), the Delaware Supreme Court held that the business judgment rule applies to any merger not subject to entire fairness review that has been approved by a fully informed, uncoerced vote of disinterested stockholders. Following that decision, the Delaware Court of Chancery has applied Corwin…
Delaware Business Court Insider | May 25, 2016
In In re Wal-Mart Stores Delaware Derivative Litigation, C.A. No. 7455-CB (Del. Ch. May 13, 2016), the DelawareCourt of Chancery held that an order of the U.S. District Court for the Western District of Arkansas dismissing anArkansas complaint precluded Delaware plaintiffs from litigating demand futility in a Delaware derivative actionchallenging the same underlying conduct. Although the…
Insights | April 2016
In FdG Logistics LLC v. A&R Logistics Holdings,Inc.,the Delaware Court of Chancery clarifi ed thetype of language that must be included in an acquisitionagreement for a party to demonstrate that theother party has eff ectively disclaimed reliance onextra-contractual representations. In sum, the FdGLogistics Court held that the anti-reliance languageat issue, which was merely a…
MorrisAnderson | September 1, 2015
Many companies are “too broke to go bankrupt.” As the “ABI Commission to Study the Reform of Chapter 11” notes, “anecdotal evidence suggests that Chapter 11 has become too expensive (particularly for small and medium size enterprises),” and more companies are liquidating without attempting to reorganize under federal bankruptcy laws. Those companies often seek alternatives to…
Delaware Business Court Insider | February 24, 2015
In Virtus Capital v. Eastman Chemical, C.A. No. 9808-VCL (Del. Ch. Feb. 11, 2015), the Delaware Court of Chancery denied a motion to dismiss a complaint for lack of personal jurisdiction in a suit related to the 2011 sale of Sterling Chemicals Inc. to Eastman Chemical Co. that was allegedly orchestrated by Sterling’s controlling stockholder, Martin…
Delaware Business Court Insider | December 7, 2011
In its Nov. 9 decision in In re Krafft-Murphy Company, the Delaware Court of Chancery addressed several important issues that a board of directors and its legal advisers should consider in connection with the dissolution of a corporation.
Delaware Business Court Insider | September 7, 2011
Over the past few years, the level of disclosure regarding the work performed by a financial adviser rendering a fairness opinion in connection with an M&A transaction has increased substantially, due in part to decisions of the Delaware Court of Chancery.
Buffalo Law Review | 2010
- Delaware, 2010