Arm’s-Length Merger price less synergies equals fair value

Business Valuation UpdateVol. 10 No. 5
Legal and Court Case Update
May 2004
6021 National Commercial Banks
dissenting shareholder

Union Illinois 1995 Investment Limited Partnership v. Union Financial Group, Ltd.
2003 Del. Ch. LEXIS 136
US
State Court
Delaware
Court of Chancery

Summary

The issue in this case was the fair value of the shares of a bank holding company for purposes of appraisal rights following a merger.

See Also

Union Illinois 1995 Investment Limited Partnership v. Union Financial Group, Ltd.

This is an appraisal action in which shareholders who are all affiliated with the O’Brien family seek a determination of the fair value of their shares in Union Financial Group, Ltd. (“UFG”). The O’Brien family controlled approximately 38% of UFG’s stoc ...