Errors and Omissions in DCF Calculations: A Critique of Delaware’s Dr Pepper Appraisal

Business Valuation UpdateVol. 13 No. 10
October 2007
Gilbert E. Matthews, MBA, CFA


The recent statutory appraisal of Dr Pepper Bottling Holdings, Inc. (“Holdings”) by the Delaware Chancery Court in Crescent/Mach I Partnership v. Turner 1 raises several conceptual and computational issues concerning discounted cash flow (DCF) valuations ...