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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.

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Court Of Chancery Adopts Market Price In Appraisal Valuation

Posted In Appraisal

Verition Partners Master Fund Ltd. V. Aruba Networks Inc., C.A. 11448-VCL (February 15, 2018)

This appraisal case adopts the target’s market price as its fair value. This confirms that the Court of Chancery may well interpret Dell and related decisions as strongly favoring market price, at least when the market is deemed efficient and unaffected by the deal. Is this then the end of appraisal arbitrage?

Tags: Appraisal