Abstract:
When the decreasingly-profitable Dayton-Hudson Corporation, one of Minnesota's most prominent retailers and largest firms, becomes the target of takeover offers, its appears to have little hope of warding off a hostile suitor. In desperation, it adopts a bold strategy to push for immediate and dramatic changes in Minnesota incorporation laws in order to short-circuit what appears to be a pending "greenmail" offer. The Minnesota political establishment is well aware of historic charitable efforts by Dayton and the large number of seasonal part-time employees hired by the firm, which is symbolized, in popular imagination, by its Christmas "Santabear" character. The state governor and legislature must, in a context of crisis, weigh the merits of the strong proposed anti-takeover legislation designed to shelter Dayton-Hudson.
