Ohta, Yasuhiro; Yee, Kenton K. - In: The Journal of Legal Studies 37 (2008) 1, pp. 229-272
The proliferation of fairness opinions promulgating "wide as Texas" price ranges is not only a seeming regulatory failure, it is a puzzle: why do 60 percent of target boards solicit seemingly worthless documents not required by law, while 40 percent of their peers do not? This article explains a...