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Delaware Chancery Court Utilizes DCF Method to Determine Fair Value of ISN Software Corp.

Shearman & Sterling

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.

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Delaware Chancery Court Utilizes DCF Method to Determine Fair Value of ISN Software Corp.

Shearman & Sterling

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.

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Delaware Supreme Court Affirms Delaware Court Of Chancery's Use Of Its Own DCF Method To Determine Fair Value After Controller-Directed Cash-Out Merger

Shearman & Sterling

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.

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Delaware Chancery Court Employs Transaction Price To Determine Fair Value In Appraisal Action

Shearman & Sterling

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.

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Delaware Chancery Court Employs Transaction Price To Determine Fair Value In Appraisal Action

Shearman & Sterling

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.

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Delaware Supreme Court Reverses And Remands Dell MBO Appraisal Decision, Finding The Trial Court Erroneously Disregarded The Deal Price

Shearman & Sterling

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.

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Delaware Supreme Court Reverses And Remands Dell MBO Appraisal Decision, Finding The Trial Court Erroneously Disregarded The Deal Price

Shearman & Sterling

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.