Dr Pepper Shines Spotlight On Delaware Appraisal Rights
By Gail Weinstein, Steven Epstein, Andrea Gede-Lange and Maxwell Yim (June 8, 2018, 12:56 PM EDT) -- In a June 1, 2018, decision in City of North Miami Beach General Employees' Retirement Plan v. Dr Pepper Snapple Group Inc., the Delaware Court of Chancery held that appraisal rights are not available to the stockholders of Dr Pepper in connection with a transaction structure (involving a reverse triangular merger and a special cash dividend to the target stockholders) that will result in the sale of control of the company.
Here are the key points of the decision:
The court confirmed that the Delaware appraisal statute does not bestow appraisal rights simply upon a sale of control — rather, appraisal...
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