Opinion ID: 2308864
Heading Depth: 1
Heading Rank: 3

Heading: The Combination

Text: Plaintiffs aver that as early as May, 1987, Coca-Cola had been contemplating a combination of its Entertainment Sector and Tri-Star to rid Coca-Cola's balance sheet of the Entertainment Sector's undesirable assets. The Combination originated at a meeting in August 1987, at which Coca-Cola's president proposed to Tri-Star's chief executive officer, Victor Kaufman, that the two companies explore a transaction to combine Tri-Star and the Entertainment Sector. Within weeks, Coca-Cola had developed a detailed plan for the Combination of Tri-Star and the Entertainment Sector, out of which a new film entertainment company would emerge. Management representatives of Coca-Cola and Tri-Star then met to discuss the Combination and eventually negotiated a written proposal labeled the Transfer Agreement. On August 31, 1987, Coca-Cola submitted the Transfer Agreement to the Tri-Star board of directors for its approval.