DCF Valuation Meant to Underpin Fairness Opinion Upends It

Business Valuation UpdateVol. 19 No. 8
Legal and Court Case Update
August 2013
6153 Short-Term Business Credit Institutions, Except Agricultural
522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities
dissenting shareholder
discounted cash flow (DCF), dissenting shareholder, merger, fairness opinion, premium

Koehler v. Netspend Holdings Inc.
2013 Del. Ch. LEXIS 131
May 21, 2013
US
State Court
Delaware
Court of Chancery
Unknown (plaintiff); unknown (defendants)
Glasscock

Summary

Court agrees with plaintiff shareholder that the proposed merger was the result of a defective sale process that included the company board’s reliance on a weak fairness opinion with valuations that were “poor indicators” of the company’s value; the sale ...

See Also

Koehler v. Netspend Holdings Inc.

Court agrees with plaintiff shareholder that the proposed merger was the result of a defective sale process that included the company board’s reliance on a weak fairness opinion with valuations that were “poor indicators” of the company’s value; the sale ...