Appraisal Rights

AUGUST 1, 2017

Today the Delaware Supreme Court reversed and remanded the appraisal decision of the Chancery Court in the highly watched DFC Global case. A more detailed post will follow, but we wanted to flag the ruling in the meantime. The court declined DFC Global’s request to impose a presumption by “judicial gloss” that would peg fair value at the merger price in cases involving arm’s-length mergers.

Comparable Company Analysis 52

Comparable Company Analysis Appraisal 52

Burch & Co.

AUGUST 1, 2017

FINRA Sponsorship-. As a FINRA member firm, Burch & Company regularly receives calls from experienced advisors interested in obtaining a FINRA license which requires sponsorship. Many of these professionals have an idea of which particular license that they would like to be sponsored for based on their work focus. As the licensing landscape has changed over the years, advisors may not fully understand which license may be the required given their different lines of business.

Corporate Finance 40

Corporate Finance Banking Finance Equity 40

Appraisal Rights

JULY 31, 2017

As we previously posted , the Chancery Court appraised the fair value of Clearwire Corp. to be $2.13 per share, substantially below the $5 per share merger price paid by Sprint Nextel Corp in July 2013. This post will provide a more detailed breakdown of the ruling and the bases for Vice Chancellor Laster’s opinion. I. The M&A Transaction(s). The court examined not only the underlying acquisition of Clearwire by Sprint, but also the related transaction by which Softbank Corp. — Japan’s lar

Appraisal 52

Appraisal Discounted Cash Flow Finance 52