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This newest piece from Law.com [$$] analyzes the most recent appraisal decision from the Delaware Chancery Court, Regal Entertainment Group, in which the court awarded stockholders a 2.6% premium to merger price.  The valuation determination followed from the court’s pegging Regal’s fair value to merger price less synergies, while adding back the increase in value arising between the signing and closing of the merger agreement with Cineworld that resulted from the reduction in the corporate tax rate under the Tax Cuts and Jobs Act.

A full version of the court’s opinion here: Regal Decision

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Steve Hecht is a go-to trial lawyer for hedge funds, institutional investors, family offices, university endowments, venture funds and other investors interested in utilizing the legal process to create value for their own investors. Whether by activist litigation, fiduciary duty claims, or appraisal…

Steve Hecht is a go-to trial lawyer for hedge funds, institutional investors, family offices, university endowments, venture funds and other investors interested in utilizing the legal process to create value for their own investors. Whether by activist litigation, fiduciary duty claims, or appraisal and other valuation strategies, Steve has extensive experience across the gamut of options for shareholders.  He regularly tries cases in Delaware Chancery Court and around the country for clients seeking outsized returns. Steve is a partner of Rolnick Kramer Sadighi LLP.