Appraisal Rights

JUNE 19, 2018

A South African trial court has found that an investor who owned shares of a parent company which sold off its operating subsidiary is entitled to appraisal rights. The case concerns the appraisal rights of an activist investor in the company KWV, which had an operating subsidiary that owned liquor assets. According to a press account, the original merger was structured as a purchase of the KWV operating subsidiary, leaving the holding company with some property, art and cash.

Appraisal 40

Appraisal 40

Appraisal Rights

JUNE 18, 2018

In Delaware, appraisal is a creature of statute. It is a statutory claim, born from 8 Del. Code Section 262; it is a claim in its own right, but it also carries with it statutory requirements. Appraisal requires that the right kind of demand be sent at the right time by the right entity. Quasi-appraisal is a creature of the common law and, as lawyers from Blank Rome observe in a growing concern for deal lawyers.

Appraisal 40

Appraisal 40