“Fair Value” to be Determined by Merger Price—<em>Merion v. Lender Processing</em>

“Fair Value” to be Determined by Merger Price—Merion v. Lender Processing


Harvard Law School Forum on Corporate Governance and Financial Regulation
By: Gail Weinstein, Scott B. Luftglass, Robert C. Schwenkel, Brian T. Mangino, Steven J. Steinman, and David L. Shaw.
 

Harvard Law School Forum on Corporate Governance and Financial Regulation published an article on the Fried Frank Private Equity Briefing titled “Recent Appraisal Decision Relies Solely on Merger Price to Determine “Fair Value”—And May Suggest Greater Receptivity to Downward Adjustments to Exclude Value of Synergies — Merion v. Lender Processing.” The article analyzes Merion Capital v. Lender Processing Services Inc. (Dec. 16, 2016), a case in which the Delaware Court of Chancery relied entirely on the merger price to determine “fair value” and issued an appraisal award equal to the merger price.

Additional Information
publications-detail.inc