Scenario I
According to the business judgment rule the takeover is not hostile. It is legal since the AgroVate’s board has turned down the offer of Bijoux on grounds that the organization was still on good hand to improve its widget finishing division. The business judgment rule supports the idea that the director and the board have made the final decision of turning down Bijoux offer. The business judgment rule states that any informed decision that has been reached by the AgroVate’s board and shall not be overturned by any means not unless it does not support or stands ...
