News & Events

Partner Stephen Blake was quoted in a Law360 article titled, “Delaware Courts Further Shape MFW, Appraisals In Q3,” discussing some of the biggest M&A-related developments in Delaware in Q3, including how the Delaware judiciary may broaden MFW protections outside controller-led transactions, and how it has also offered further clarity on its approach to appraisal actions. In relation to the ongoing appraisal case surrounding the acquisition of Jarden Corp., Stephen notes that it will be of particular interest if it is appealed, as it will give the Delaware Supreme Court an opportunity to evaluate a case crafted to show the fair value was established by an efficient capital market. “The respondents in Jarden appear to have made a very conscious effort to establish a record related to market efficiency and to include expert testimony and do all of the things at the trial court level in order to support the factual findings the vice chancellor made, that the market price is the best indicator here,” he says.

To read the full article, please click here (subscription required).