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Chancery Rejects Delay In Columbia Pipeline Appraisal Suit

Law360 (March 7, 2018, 7:58 PM EST) -- Rejecting arguments that a recent court ruling signaled a sea change in court approaches to post-deal share appraisals, a Delaware vice chancellor on Wednesday declined to stay or slow an appraisal suit targeting Columbia Pipeline Group Inc.’s $13 billion sale in 2016.

Vice Chancellor J. Travis Laster’s decision retained current plans for an appraisal challenge mounted by nearly a dozen investors who said Columbia sold itself short in its $25.50 per share merger deal with TransCanada Corp.

Attorneys for the investors argued that case preparation needs...
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