Del. Justices Uphold Appraisal In $512M 'American Idol' Deal
Law360, Wilmington (February 12, 2015, 7:36 PM EST) -- Delaware's Supreme Court on Thursday ruled that dissenting CKx Inc. investors should receive the same price for their shares as stockholders who signed up for a $512 million buyout of the "American Idol" owner by Apollo Management LLC, backing an appraisal performed by the Chancery Court.
In a two-page order, the Supreme Court rejected a call from the Huff Fund Investment Partnership to reverse Vice Chancellor Sam Glasscock III's determination that the $5.50 per share that Apollo paid consenting CKx stockholders was a fair price for the fund's shares.
The high court, which heard oral arguments only the day before, also...
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