Posted on July 2, 2008 by Francis G.X. Pileggi

Issue of Delaware Law on Staggered/Classified Board of Anheuser-Busch at Heart of InBev Chancery Fight

Prof. Gordon Smith on his Conglomerate blog provides an insightful analysis of the Delaware corporate law involving staggered/classifed boards under DGCL Section 141 and its application to the pending suit in Delaware Chancery Court recently filed by InBev  to obtain a ruling on whether Anheuser-Busch's (A-B's) board of directors (currently in transition from a staggered to a non-classifed board) can be removed without cause by written consent.

Even A-B's CEO seems to be less than certain on the issue, as mentioned recently here.

The good professor also links to an analysis of these Delaware corporate issues (which are the subject of pending Delaware business litigation),  by professors Steve Davidoff and Matt Bodie.

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