We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Aurelius Fights 'Unprecedented' Clearwire Buyout Appraisal

Law360, Wilmington (November 27, 2017, 7:50 PM EST) -- Aurelius Capital Management LP told the Delaware Supreme Court in a brief unsealed Monday that the Chancery Court’s appraisal of Sprint Nextel Corp.’s $3.6 billion buyout of Clearwire Corp. valued the deal so low as to be “virtually unprecedented” and relies on a “despotic notion” that is contrary to Delaware law.

In its opening brief appealing Vice Chancellor J. Travis Laster’s July 21 opinion, Aurelius argued that the court valued the merger at a “staggering discount” of less than half of the market price, and relied...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.