"We are prepared to go forward without a merger," Mr. Ballmer said.
Nasdaq is exploring a potential bid for its longtime rival, NYSE Euronext, which is moving forward with a merger with Deutsche Borse, according to people briefed on the matter.
The two men decided to go forward with the merger negotiations, and Pierce urged Davis to "do it quickly, do it quietly".
Delta and Northwest had hoped to obtain a new contract covering the roughly 11,000 pilots and an agreement on merging their two seniority lists before going forward with a merger.
The Delaware Chancery Court ordered Hexion to move forward with the merger, but by then nervous banks wanted no part of the deal.
The standard to establish bad faith is high – plaintiffs essentially have to show that the company's board knew that Bank of America would be harmed but willfully went forward with the merger.
Then, late last month, without Mr. Crosson's approval, he moved forward with a merger, creating a new umbrella organization, the Long Island Technology Network, which includes the Long Island Forum for Technology, a group with a $3.5 million budget and some 300 members.
"The decision to go forward with the merger rightly remained in the hands of Bank of America's board and management, and they were obligated to make the choice they believed was in the best interests of the shareholders and company," he testified.
McDowell has expressed similar sentiments, meaning his vote would likely have pushed the merger forward.
