Keeping Up with Delaware Appraisal Jurisprudence Since Aruba: Deal Price Reigns Supreme, But Will Recent Decision Lead to More Arbitrage?
Cooley M&A
JULY 9, 2021
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. Panera Bread was a publicly traded company that JAB Holdings B.V. took private in 2017 for $315/share.
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