Which of the following was the result in the case in the text from the Delaware Court of Chancery involving a dead-hand pill under Delaware law?
A) That the directors appropriately used the dead-hand pill which guaranteed that majority shareholders in place before a hostile bidding attempt were entitled to vote to block any later proposed vote on a merger.
B) That the directors appropriately used the dead-hand pill because directors are entitled to use any means necessary in order to block a hostile takeover.
C) That the pill violated the state general corporation law for a number of reasons including that it violated the directors' duty of loyalty.
D) That the pill, which could only be redeemed by directors in office after a hostile bidder gained control or by their designated successors, violated the state general corporation law because it prejudiced directors in place prior to the takeover.
Correct Answer:
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