Krieger v. Wesco Financial Corporation: Court of Chancery Applies Unified Standard of Review to Controlling Stockholder Transaction and Considers Entitlement to Appraisal Rights in Cash/Stock Election Transaction

In Krieger v. Wesco Financial Corporation, the Delaware Court of Chancery denied plaintiff stockholder's motion for a preliminary injunction against a proposed acquisition of Wesco Financial Corporation by Berkshire Hathaway , the holder of 80.1% of the Company's common stock, in which Berkshire sought to acquire the remaining outstanding shares of common stock.