The case Dieckman v. Regency GP LP, No. CV 11130-CB, 2019 WL 5576886 (Del. Ch. Oct. 29, 2019) does not concern appraisal rights – at least not directly. But the history of the merger in that case is a valuable reminder that an investor expecting to use the appraisal remedy must follow the transaction
It looks that way, according to this analysis on the CLS BlueSky Blog. From the authors:
The Corporate Council of the Corporation Law Section of the Delaware State Bar Association has put out proposed amendments to Delaware law, including a technical change to Section 262, the statutory basis for Delaware appraisal. Richards Layton, a Delaware law firm, summarizes the proposed amendment:
The proposed amendments would amend Section 262(b) of the
A frequently asked question involves the availability of appraisal rights when investors are being offered only stock in the acquiring corporation in exchange for their shares.
The answer is typically no. The Delaware appraisal statute provides that appraisal rights are available in a wide range of statutorily permitted mergers. 8 Del. C. § 262(b). However