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Delaware Chancery Court Grants Appraisal Rights to Shareholders in DFC Global Corporation Following Acquisition by Private Equity Fund

Shearman & Sterling

On July 8, 2016, Chancellor Andre Bouchard of the Delaware Court of Chancery granted a petition for appraisal of former stockholders of DFC Global Corporation ("DFC") at a "fair value" of $10.21 July 8, 2016). per share, rather than the price ($9.50 In re Appraisal of DFC Global Corp., 10107-CB (Del. Read more

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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 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 Grants Appraisal Rights to Shareholders in DFC Global Corporation Following Acquisition by Private Equity Fund

Shearman & Sterling

On July 8, 2016, Chancellor Andre Bouchard of the Delaware Court of Chancery granted a petition for appraisal of former stockholders of DFC Global Corporation ("DFC") at a "fair value" of $10.21 July 8, 2016). per share, rather than the price ($9.50 In re Appraisal of DFC Global Corp., 10107-CB (Del. Read more

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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 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 Appraisal Award But Rejects Bright-Line Presumption In Favor Of Deal Price

Shearman & Sterling

518, 2016 (Del. per share, by giving equal weight to: (1) the deal price, (2) a comparable companies analysis, and (3) a discounted cash flow analysis. DFC Global Corp. Muirfield Value Partners, L.P., The Court of Chancery had calculated a fair value of $10.30 per share, 8.4% higher than the deal price of $9.50