Shareholders opposed to Dr Pepper Snapple Group’s planned merger with Keurig Green Mountain are barred from seeking appraisal as the Court of Chancery ruled June 1 that under the Delaware General Corporation Law, the deal’s structure wiped out that right.

Chancellor Andre G. Bouchard said the statutory remedy was not an option for two Florida-based pension funds because Dr Pepper itself would not be merged with Keurig, but would merely participate as a parent company in the transaction. The investors, he said, would also retain a 13-percent stake in the combined company, making them ineligible to pursue their appraisal rights.