Drew Voth (Grant Thornton) wrote in the recent Business Valuation Monitor:
When…setting valuation law precedent (and reminding us of preexisting precedent), no venue is more important than the Delaware Chancery Court. The sheer volume of companies incorporated in Delaware makes the state a natural venue for the majority of corporate shareholder value actions, and the sheer volume of cases has made the chancellor and vice chancellors — the judges — some of the most sophisticated regarding valuation issues.
Voth provides a discussion of three recent cases, the court’s findings, and insights into the implications of those findings for corporate valuations. The cases are:
- Golden Telecom, Inc. v. Global GT LP, 2010 WL 5387589 (Del. Supr.) (Dec. 29, 2010)
- In re Sunbelt Beverage Corporation, 2010 Consol. C.A. No. 16089-CC (Del. Ch.) (Jan. 5, 2010)
- Berger v. Pubco Corporation, et al., 2010 C.A. No. 3414-CC (Del. Ch.) (May 10, 2010)