The duties of a board of directors that is buying another company were addressed in a recent article by Mark Morton, Michael Pittenger and Michael Reilly, all of Wilmington, Delaware. Their article appeared in the Newsletter of the ABA’s Negotiated Acquisitions Committee, and is entitled: "Buyer Beware: The Fiduciary Duties of a Buyer’s Board". One can download it here. The respected authors provide insightful analysis of recent decisions by the Delaware Court of Chancery on the issue, and while they acknowledge the much more plentiful Delaware caselaw on the fiduciary duties imposed on those boards that are selling their companies, the article is must reading for anyone advising boards who are engaged in a major acquisition.