The Rales brothers won a major victory...
The Rales brothers won a major victory in their hostile $2.7-billion bid for Interco when a court issued a preliminary injunction blocking the furniture and apparel company’s “poison pill” defense. Within hours, Interco said it would appeal the Delaware Chancery Court ruling and seek a stay to prevent the Raleses from acquiring any shares under their $74-a-share tender offer until a decision is rendered.
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