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Delaware Court Of Chancery Uses DCF Analysis To Arrive At Fair Value Below Deal Price, Even Though Deal Process Was Not "Dell Compliant"

Shearman & Sterling

​On February 23, 2018, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery ruled, based on his own discounted cash flow ("DCF") analysis, that the fair value of AOL Inc. ("AOL") was below the deal price paid by Verizon Communications Inc. ("Verizon") to acquire it. In re: Appraisal of AOL Inc.,

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Investment Banking in Dubai: The New York of the Middle East?

Mergers and Inquisitions

Most of our students and coaching clients in the Middle East have had to complete modeling tests or case studies, even for entry-level roles, and something like the 90-minute 3-statement modeling test or DCF model on this site could easily come up. standards (i.e., low billions up to $10 billion in AUM across all funds).

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Keeping Up with Delaware Appraisal Jurisprudence Since Aruba: Deal Price Reigns Supreme, But Will Recent Decision Lead to More Arbitrage?

Cooley M&A

The Regal appraisal proceeding arose from Cineworld’s acquisition of Regal Entertainment Group in February 2018. January 2020) +12% DCF Private target; unreliable sales process Final (affirmed on appeal on January 22, 2021) Synapse Wireless (VC Slights – Del. Adjustments to Deal Price for Changes to Value Between Signing and Closing.