The Delaware Court of Chancery, in Manichaean Capital, LLC, et al. v. SourceHOV Holdings, Inc., C.A. No. 2017-0673-JRS, memo. op. (Del. Ch. Jan. 30, 2020), found the fair value of a private company, in a statutory appraisal proceeding, exceeded the price per share paid in a merger.
NEW: K&L Gates discusses the decision in In A Section 262 Appraisal Rights Proceeding, Chancery Court Accepts A Modified Version of Petitioners’ Valuation of a Merging Company’s Stock.
Morris James discusses the decision in Chancery Appraisal Decision Illustrates the Importance of Reliable Expert Testimony and Witness Credibility to Fair Value Determinations.
Lowenstein Sandler discusses the decision in SourceHOV: Chancery Court Departs From Merger Price Awarding 12% Premium.
Bloomberg Law discusses the decision in SourceHOV-Exela Deal Price Hiked 12% in Delaware Appraisal Case.