Blog: Schrempp vs Kerkorian
Dave Leggett | 1 December 2003
The great DC 'merger of equals' case is finally going to court. DC has already settled with a group of shareholders who brought a class action on this very point, so it doesn't seem unreasonable to suppose that Kerkorian will fancy his chances. Let's face it: Schrempp made a big tactical error when he was interviewed by the Financial Times and basically let the cat out of the bag. This was very much on the record with an august publication like the FT. What was he thinking? Pure arrogance, some will say. Just being honest and much hay has been made out of very little say others.
I'd guess though that he won't want to settle with Kerkorian the way DC did with the other shareholders. I'm told that these two characters loathe each other with a passion and that it's more than a little personal by now. But the publicity this case generates won't be at all good for the company. It serves to re-open old wounds. Good soap though and the arguments that have raged over the last few years have been fascinating.
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