Davis Sues to Overturn Minnesota Law: Los...
Davis Sues to Overturn Minnesota Law: Los Angeles billionaire Marvin Davis asked the U.S. District Court in Minneapolis to declare unconstitutional a law that halted Davis’ $90-a-share tender offer for NWA, the parent of Northwest Airlines, within Minnesota. The state law requires Davis to tell shareholders about his financial plans for the airline, but Davis has refused to do so, claiming those details are confidential. Thomas A. Keller III, a Minneapolis attorney for Davis, said the Minnesota ban doesn’t affect the $2.7-billion tender offer outside Minnesota, NWA’s home state.
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