Delaware Court Appraises Dell Stock at 22% more than Deal Price
The Delaware Chancery Court found that certain stockholders of Dell, who sought appraisal of the fair value of their shares following the Company's buyout, are entitled to 22% more than the $24.9 billion deal price but statutory 5% interest. Stockholders may seek appraisal for the fair value of shares they hold prior to a merger under Delaware law and are entitled to statutory interest that accrues from the time the deal closes until the resolution of their action. In Dell, the Court rejected the deal price as a fair indication of the Company's value since it had undergone a momentary dip in its stock price and the Board did not properly consider the Company's intrinsic value before negotiating the deal. Andersen Sleater specializes in representing investors in appraisal actions in courts across the country. For more information on Dell appraisal, click here. For more information on appraisal actions and other investor actions by Andersen Sleater, click here.