The Delaware antitakeover statute provides that an acquirer of a Delaware corporation cannot complete a merger with the acquired corporation for one (1)year after purchasing fifteen (15)percent or more of the Delaware corporation's shares.

Question

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The Delaware antitakeover statute, known as Section 203, actually imposes a three-year moratorium on mergers with an interested stockholder who acquires 15% or more of the company's stock, unless certain conditions are met.

The Delaware Antitakeover Statute Provides That an Acquirer of a Delaware