Public Shareholders, Fair Value, and the ‘Market-Out Exception’ in Appraisal Statutes

Business Valuation UpdateVol. 21 No. 2
February 2015
Gilbert E. Matthews, MBA, CFA
Michelle Patterson, J.D., Ph.D.


Introduction: public shareholders and appraisal rights. Appraisal is a right and a remedy. Available by statute in all states, appraisal provides disgruntled shareholders the right “to require the corporation to pay them the ‘fair value’ of their shares ...