April, 2017

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Private Equity Weighs Appraisal Strategy

Appraisal Rights

This piece by Law360, “ Appraisal Actions May Be The Next Frontier For PE Shops ,” discusses a range of reactions to the closely watched rulings in the DFC Global and Dell appraisal cases currently on appeal before the Delaware Supreme Court. Some commentators see the appraisal strategy becoming more attractive to private equity funds as the valuation methodologies used by the Chancery Court become more refined and formulaic, while critics write off the increase in appraisal activity as a natur

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When Approval for a Drug “Indication” Gets Murky: Drafting Milestones to Avoid Disputes

Cooley M&A

According to a recent study by SRS of recent private life sciences deals, disputes over earn-outs arose in about one-third (36%) of all milestones that were expected to be hit by September 2016. [1] While most disputes were not about contract interpretation issues regarding whether an event triggered the milestone or not, [2] one recent dispute in the Delaware Court of Chancery illustrates the potentially significant value at stake when these interpretation issues do occur.

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Trending Sources

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2017 M&A Source Spring Conference

Burch & Co.

DATES: May 8th through the 10th. . Please let us know if you are in the Dallas/Ft. Worth area or will be attending M&A Source and would like to discuss how Burch & Company’s services can fit into your practice. We will be meeting with M&A Advisors, Investment Bankers and Intermediaries, as well as Private Equity groups while attending this conference.

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Appraisal “Outs” in M&A Deals

Appraisal Rights

This Bloomberg BNA piece, “ Dealmakers Eye Safeguards Amid Rising Valuation Challenges ,” observes the spike in appraisal activity and queries whether M&A buyers are taking added steps to address appraisal risk.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Understanding DTCC and Share Ownership – An ABA Business Law Program

Appraisal Rights

The ABA Business Law Section, Spring Meeting, shared this presentation, laying out some useful information regarding the Depository Trust & Clearing Corporation. The material is of particular relevance to those interested in appraisal rights; the continuous holder requirement – which requires appraisal seekers to have continuously held their stock from the time of making their appraisal demand through the deal closing – requires a petitioner to overcome procedural hurdles in order to exercis

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Cayman Appraisal Rights in Focus

Appraisal Rights

Conyers Dill & Pearman, a firm with offices in, among other places, Bermuda and the Cayman Islands, prepared this write-up on the use of appraisal rights in the Cayman Islands. Like Delaware, the Cayman Islands have seen an uptick in shareholders exercising their appraisal rights to seek fair value for their shares. A prior article by Conyers Dill provides extensive background on the availability of appraisal rights in the Cayman Islands; the firm has also written on the principles considere