Beatrice shareholders sued to block a buy-out.
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Investors Robert A. Weiss and Louis Klein filed suit in federal court in Chicago seeking to block the planned sale of the food and consumer products company to Kohlberg Kravis Roberts & Co. for $50 a share, or $6.2 billion. They charged Beatrice directors with a “lack of full effort” to find competing bidders and with conflict of interest. The suit seeks an injunction to block the sale and “golden parachute” severance agreements awarded to top officers.
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