Arm’s-Length Merger Price Less Synergies Equals Fair Value

Business Valuation UpdateVol. 10 No. 5
Legal and Court Case Update
May 2004

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6021 National Commercial Banks
shareholder dissent/oppression
Union Illinois 1995 Investment Limited Partnership v. Union Financial Group, Ltd.
2003 Del. Ch. LEXIS 136
January 5, 2004
US
State Court
Delaware
Court of Chancery
David Clarke, Michael G. Mayer

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.

Full Text of Court Cases
January 5, 2004

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 ...