Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

DUNFORD & ELLIOTT LTD. v. JOHNSON & FIRTH BROWN LTD.

[1977] 1 Lloyd's Rep. 505

COURT OF APPEAL

Before Lord Denning, M.R., Lord Justice Roskill and Lord Justice Lawton

Practice - Injunction - Takeover bid - Company in financial difficulty deciding to make rights issue - Financial report of company's prospects given in confidence to institutional shareholders - Institutional shareholders invited to underwrite issue - Rival company invited by institutional shareholders to join in underwriting - Report shown to rival company - Rival company declining to underwrite issue but proposing to make takeover bid - Whether injunction restraining takeover bid should be granted.

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