The Delaware Court of Chancery in 2018 sought to provide new guidance in appraisal litigation after two landmark rulings from the state’s high court set a clear preference for deal price in determining fair value in corporate mergers.
The new developments followed major rulings last year from the Supreme Court in the Dell and DFC appraisal actions, which said merger price is the best metric for finding fair value when there is a “robust” sale process conducted in a well-functioning market for the target company’s stock.
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