Merger-Related Projections Pass Muster With Delaware Chancery

Business Valuation UpdateVol. 19 No. 12
Legal and Court Case Update
December 2013

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shareholder dissent/oppression
expert testimony, discounted cash flow (DCF), rule 702, statutory appraisal, comparable transactions method
Merion Capital, L.P. v. 3M Cogent, Inc.
2013 Del. Ch. LEXIS 172
July 8, 2013
US
State Court
Delaware
Court of Chancery
Dr. Bernard C. Bailey (petitioners); Henry F. Owsley, Stephen M. Schiller, Gordian Group (respondent)
Parsons

Summary

In statutory appraisal action, Court of Chancery discredits respondent’s comparable company analyses because the comparables were significantly smaller than the target and not in the same industry or had different multiples; as to the DCF analysis, the ta ...

See Also

Merion Capital, L.P. v. 3M Cogent, Inc.

Full Text of Court Cases
July 8, 2013

In statutory appraisal action, Court of Chancery discredits respondent’s comparable company analyses because the comparables were significantly smaller than the target and not in the same industry or had different multiples; as to the DCF analysis, the ta ...