Delaware Chancery Revises DCF Analysis on Reconsideration of Prior AOL Ruling
Appraisal Rights
AUGUST 16, 2018
Vice Chancellor Glasscock issued yesterday this AOL ruling on reconsideration , lowering his prior $48.70 determination to $47.08 — going farther below the $50 merger price — on the basis that he had overvalued one of AOL’s pending transactions in his DCF analysis. The court prefaced its ruling by expressing its displeasure at both parties having moved for reargument, which the court found “rarely efficient or productive” and “encourages run-on litigation.
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