Summary
At issue is the fair market value of minority shareholder's stock at the time of a merger.
See Also
'Net Asset Value' Rejected as Form of Liquidation
This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc.
Court Denies Deduction of Trapped in Capital Gains Tax; Disallows Deduction for Liquidation Costs
This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc. (Okeechobee).
Fair Value Cannot Be Determined Using Net Asset Value Alone
The Delaware Supreme Court ruled that a corporation valued pursuant to the appraisal statute could not be valued solely by reference to its net asset value because net asset value equates to the theoretical liquidation value. The statute states that a bu ...