Chancery Decision Demonstrates When To Skip Appraisal

Law360 (August 14, 2019, 4:50 PM EDT) -- On July 19, the Delaware Court of Chancery issued its 143-page, post-trial decision — which contained 612 footnotes — In re Appraisal of Jarden Corp.,[1] adjudicating a statutory appraisal action arising from a merger in which Newell Rubbermaid Inc. acquired Jarden Corp. for cash and stock totaling $59.21 per share.

Based upon the analyses performed by their expert, the petitioners argued that Jarden’s fair value on the date of the merger was $71.35 per share. Based upon the analyses performed by its expert, Jarden argued that its fair value on the date of the merger was $48.01 per share.

The court rejected these...

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