In the U.S., there has been a surge of appraisal petitions and appraisal arbitrage, but this is not the case in the EU, according to a paper by Alexandros Seretakis (Trinity College, Dublin). In the EU, shareholders view the appraisal remedy as a last-resort measure because of a variety of factors (which the paper deciphers), including a hostile legal regime, the paper says.
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