Del. Supreme Court Asked To Keep $7B Dell Appraisal Bump
Law360, Wilmington (September 27, 2017, 5:50 PM EDT) -- Attorneys for shareholders who last year won a $7 billion court-ordered hike in Dell Inc.’s stock appraisal after a $24.9 billion management buyout in 2013 told Delaware’s Supreme Court on Wednesday that Dell’s original go-private terms amounted to a company steal.
It proved an into-the-wind argument, however, for shareholder attorney Stuart M. Grant of Grant & Eisenhofer, as Chief Justice Leo E. Strine Jr. at one point termed part of the justification for the bump-up “incoherent” and contradicted by market response to Dell’s search for higher offers. Company CEO Michael Dell and private equity Silver Lake Partners took the company private...
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