The legal issues that relate to mergers and acquisitions (M&A) of businesses.

Oshkosh Truck Corporation has lost yet another court battle in connection with its bid to acquire Stewart & Stevenson Services, Inc., a defense contractor.  Concluding that a deal with Oshkosh would raise significant antitrust concerns, Stewart & Stevenson decided to merge with Armor Holdings Inc. instead.

Not content to let this one go, Oshkosh filed suit in federal court. It argued that Stewart & Stevenson's management "failed to uphold their responsibilities to shareholders" by rejecting Oshkosh's higher bid in favor of Armor's competing offer. A federal judge dismissed the case.

Oshkosh decided to try its luck in Texas state court. It lost--again. Acccording to a press release issued by Stewart & Stevenson, the court denied Oshkosh's request for a temporary restraining order to postpone Stewart & Stevenson's special shareholder meeting. At the shareholder meeting, which proceeds tomorrow, shareholders will vote on Stewart & Stevenson's cash merger with Armor Holdings.