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WILMINGTON, Del. (AP) - Judges in Delaware's famed business court are keeping a close eye on legal issues cropping up amid the recent wave of private equity buyouts of public corporations.
In recent rulings, Court of Chancery judges have signaled that Delaware, corporate home to more than half of the Fortune 500, plans to take the lead in disputes arising from the buyouts.
A key issue surrounding the acquisitions is whether managers negotiating deals in which they would keep their jobs after helping take companies private are diligent enough in trying to maximize shareholder value by finding other bidders.
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