As we have noted before, getting the basics right is important in the world of appraisal. For example, if appraisal rights are available to shareholders, then an appraisal notice must get that right. Simpler still, as an article in Forbes reminds readers, in any M&A transaction, whether appraisal rights exist and whether shareholders need to be notified should be considered.
This is especially true as the existence of appraisal rights is a jurisdiction-specific, and sometimes fact specific (and transaction specific) inquiry. We’ve noted before that while appraisal rights may exist in one jurisdiction, and not in another, jurisdictions may also differ on the kinds of transactions offering appraisal rights, and even on whether the buyer’s shareholders get appraisal rights.
In any M&A transaction, consideration of appraisal rights should be on the checklist.