Fairness Opinions Not Really Put to Test in P&G Shareholder Vote?
Back on July 11th, the New York Times ran a Dealbook column by Andrew Sorkin that the then upcoming shareholder vote on the acquisition of Gillette would test the validity of so-called "fairness opinions." Given that P&G shareholders approved the merger with an overwhelming level of support - 96%, according to this article - I wonder where that leads us on fairness opinions?
To learn more on this topic, see this thoughtful memo from Wachtell Lipton regarding conflicts in fairness opinions - as well as the transcript from our recent webcast: "Conflicts of Interest and Dicey Engagements."
Posted by broc at July 18, 2005 09:08 AM