2006 • Volume 31 • Number 3

The Birth of Unocal — a Brief History

Andrew G.T. Moore

Justice Moore’s commentary on the history of Unocal is a first-hand account of the Delaware Supreme Court’s Unocal decision. He provides the history of corporate takeovers prior to Unocal, and then takes the reader through the development of the case itself, including the history of the company, the trial court’s involvement and the personalities behind the curtain. He also provides insight into how the court decided to adopt the so-called Unocal intermediate standard of review and he explains the essential features of the court’s decision. Justice Moore concludes with how Unocal, along with Moran v. Household International, Inc., heard by the Delaware Supreme Court four days after its Unocal decision, forever changed hostile corporate takeovers.