The Delaware Supreme Court issued its highly-anticipated ruling today in the Dell appraisal case, reversing and remanding the trial court’s 28% premium awarded to the stockholders. In sum, the court held that where a company is sold in a pristine M&A auction process, the chancery court must give the merger price “heavy weight” in its ruling, leaving it to the trial court to decide just how much weight that should be in this case. The Supreme Court also ruled on a cross-appeal challenging how the trial court assessed expenses across the appraisal class.
For further coverage of the Dell decision, see the links below.
**This firm is a counsel of record in the Dell case.