The Delaware Court of Chancery has again turned to the deal price in a major appraisal action, ruling Vista Equity Partners paid fair value in its $3.85 billion acquisition of software firm Solera Holdings Inc. in 2015.

On Monday, Chancellor Andre G. Bouchard shaved less than $2 off of the $55.85 per share deal price to account for cost savings that the companies had achieved in the transaction. However, Bouchard tossed aside “widely divergent” valuations from both sides to set fair value at $53.94, in a decision that hewed closely to recent guidance from the Delaware Supreme Court.

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