Shearman & Sterling

JANUARY 2, 2017

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.

Discounted Cash Flow 52

Discounted Cash Flow DCF Sale Stock 52

Shearman & Sterling

JANUARY 2, 2017

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.

Discounted Cash Flow 40

Discounted Cash Flow DCF Sale Stock 40

Shearman & Sterling

DECEMBER 19, 2017

per share significantly undervalued the stock of Dell. 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 In re Appraisal of Dell Inc.,

Discounted Cash Flow 52

Discounted Cash Flow DCF Private Equity Shares 52

Shearman & Sterling

AUGUST 15, 2017

per share significantly undervalued the stock of DFC. 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. Strine, Jr., DFC Global Corp. Muirfield Value Partners, L.P., per share, 8.4%

Discounted Cash Flow 52

Discounted Cash Flow Private Equity Shares Debt 52

Shearman & Sterling

DECEMBER 19, 2017

per share significantly undervalued the stock of Dell. 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 In re Appraisal of Dell Inc.,

Discounted Cash Flow 40

Discounted Cash Flow DCF Private Equity Shares 40

Shearman & Sterling

AUGUST 15, 2017

per share significantly undervalued the stock of DFC. 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. Strine, Jr., DFC Global Corp. Muirfield Value Partners, L.P., per share, 8.4%

Discounted Cash Flow 40

Discounted Cash Flow Private Equity Shares Debt 40