Bouchard schedules a hearing on Shirley Shawe’s 51% TransPerfect offer

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Delaware  Chancellor Andre Bouchard will hold a hearing  on May 5 on a request by Shirley Shawe for a “51 percent solution” for the dispute over control of TransPerfect.

Shawe, the mother of Phil Shawe, offered to cede over her 1 percent share of the company to 50 percent owner Elizabeth Elting who would gain control of the board of directors.  Elting rejected the offer.

Bouchard has ordered the sale process to get under way for the translation services company. Elting has supported the sale while Phil Shawe has fiercely opposed  it, vowing to take the case to the U.S. Supreme Court if necessary.

A group, known as Citizens for a Pro-Business Delaware has pushed for a legislation in Delaware that would require a three-year cooling off period prior to a sale.

 We just want to reiterate that this proposal should end this kangaroo court process. There are 4,000 jobs at risk. I talk to families every day who just want this thing to end. Here we have a proposal to give Ms. Elting exactly what she sued for in the first place, control over 51 percent of the company and a permanent end to the deadlock,” stated Chris Coffey of Citizens for a Pro-Business Delaware “If that’s what this case was really about, we are confident that the judge would accept the proposal and allow these employees to move on with their lives. We’ll see on May 5th. “

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