[nocoiner]

I’m not sure what your point is. There’s a well established standard in Delaware for upholding conflicted transactions and the process for cleansing them ex ante. That this particular transaction lifted the tide for all boats doesn’t mean that all, most or even many similarly conflicted transactions result in a positive amount of value creation for non-controlling shareholders.

What I think is more interesting is how the duties imposed on controllers, directors and officers of Delaware corporations are, in my opinion, one of the key factors that have directly contributed to such a massive creation of wealth over most of the past century that $56 billion is a merely a drop in the very large bucket.

Delaware as a venue for capital formation and value accretive corporate norms works so well that I’d think anyone raising third party capital would welcome the enforcement by all shareholders, whether they hold a million shares or just a single one.