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On August 11, 2016, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery relied on his own discounted cash flow ("DCF") analysis to determine the fair value of ISN Software Corp. ("ISN") in an appraisal action brought by two minority shareholders following the merger of ISN with its wholly-owned subsidiary.
On August 11, 2016, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery relied on his own discounted cash flow ("DCF") analysis to determine the fair value of ISN Software Corp. ("ISN") in an appraisal action brought by two minority shareholders following the merger of ISN with its wholly-owned subsidiary.
See Shearman & Sterling LLP, Delaware Chancery Court Utilizes DCF Method To Determine Fair Value Of ISN Software Corp., . ("ISN") in an appraisal action brought by minority stockholders following the cash-out merger of ISN with its wholly-owned subsidiary, at the direction of its controlling stockholder. In re ISN Software Corp.
On December 16, 2016, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery relied on the final deal price to determine the fair value of stock in Lender Processing Services, Inc. ("LPS"), in an appraisal action brought by shareholder petitioners after Fidelity National Financial, Inc. ("Fidelity") acquired LPS.
On December 16, 2016, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery relied on the final deal price to determine the fair value of stock in Lender Processing Services, Inc. ("LPS"), in an appraisal action brought by shareholder petitioners after Fidelity National Financial, Inc. ("Fidelity") acquired LPS.
565, 2016 (Del. After a trial, the Court of Chancery had disregarded the deal price and instead applied its own discounted cash flow ("DCF") analysis, arriving at a valuation of $17.62 per share significantly undervalued the stock of Dell. In re Appraisal of Dell Inc., per share reflecting an approximate 28% premium.
565, 2016 (Del. After a trial, the Court of Chancery had disregarded the deal price and instead applied its own discounted cash flow ("DCF") analysis, arriving at a valuation of $17.62 per share significantly undervalued the stock of Dell. In re Appraisal of Dell Inc., per share reflecting an approximate 28% premium.
In an effort to reduce appraisal arbitrage, Delaware amended the appraisal statute in 2016 to permit companies to prepay the deal price, stopping the clock on the statutory interest accrual. January 2020) +12% DCF Private target; unreliable sales process Final (affirmed on appeal on January 22, 2021) Synapse Wireless (VC Slights – Del.
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