In re AOL Inc.

BVLaw
Full Text of Court Cases
February 23, 2018
7374 Computer Processing and Data Preparation and Processing Services
518210 Data Processing, Hosting, and Related Services
dissenting shareholder
fair value, cash flow, discounted cash flow (DCF), market approach, merger, synergy, projections, growth rate, terminal value, arm's length, working capital, ''Dell compliant'', operative reality

In re AOL Inc.
2018 Del. Ch. LEXIS 63
US
State Court
Delaware
Court of Chancery of Delaware
Dr. Bradford Cornell (petitioners); Prof. Daniel Fischel (company/respondent)
Glasscock

Summary

In statutory appraisal, court finds sales process was not “Dell compliant” and declines to assign any weight to deal price; court agrees with parties’ experts that DCF best captures fair value on valuation date and arrives at final value below deal price.
In re AOL Inc.
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See Also

Chancery Relies on DCF Where Deal Process Is Not ‘Dell Compliant’

In statutory appraisal, court finds sales process was not “Dell compliant” and declines to assign any weight to deal price; court agrees with parties’ experts that DCF best captures fair value on valuation date and arrives at final value below deal price.