DE Chancery Plumbs Merger Price for ‘Speculative Value Elements’

Business Valuation UpdateVol. 20 No. 8
Legal and Court Case Update
August 2014

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4833 Television Broadcasting Stations
515120 Television Broadcasting
shareholder dissent/oppression
fair value, discounted cash flow (DCF), merger price, statutory appraisal, synergy, guideline companies
Huff Fund Investment Partnership v. CKx, Inc. (II)
2014 Del. Ch. LEXIS 82
May 19, 2014
US
State Court
Delaware
Court of Chancery
Robert Reilly (petitioners); Jeffrey Cohen (respondent)
Glasscock

Summary

In statutory appraisal action, Chancery scrutinizes merger price for downward or upward adjustment based on improper inclusion of synergistic value or exclusion of value stemming from business opportunities arising prior to consummation of merger.

See Also

Huff Fund Investment Partnership v. CKx, Inc. (II)

Full Text of Court Cases
May 19, 2014

In statutory appraisal action, Chancery scrutinizes merger price for downward or upward adjustment based on improper inclusion of synergistic value or exclusion of value stemming from business opportunities arising prior to consummation of merger.