Ramtron and Dell: Chancery Court Provides New Defenses Against Appraisal Arbitrageurs | Practical Law
The Delaware Court of Chancery in LongPath Capital, LLC v. Ramtron International Corporation appraised the fair value of a petitioner's shares at the merger price less synergies. Separately, the court ruled in In re Appraisal of Dell Inc. that changes by custodial banks to the names of nominees listed on stock certificates disrupted the beneficial owners' continuous ownership of the shares and disqualified them from exercising appraisal rights.