Michael Pittenger and his colleagues at the Potter Anderson firm in Wilmington, Delaware have prepared a useful memorandum  accessible here  (via the Harvard Corporate Governance Blog)  that summarizes recent Delaware Chancery Court decisions that describe fiduciary duties incumbent upon a buyer’s board of directors. There has been ample case law and commentary on the fiduciary duty of a selling company’s board of directors, but their memo is helfpul to the extent that it fills a gap in the scholarship regarding the duties of a buyer in an M & A transaction under Delaware corporate law.