Chancery Decision Demonstrates When to Skip Appraisal

Partners Michael Maimone and Joseph Schoell co-authored an article for Law360 titled “Chancery Decision Demonstrates When to Skip Appraisal.”

Their article discusses the Delaware Court of Chancery’s decision In re Appraisal of Jarden Corp., a case involving a statutory appraisal action arising from a merger in which Newell Rubbermaid Inc. acquired Jarden Corp. for cash and stock totaling $59.21 per share.

According to Maimone and Schoell, the Chancery Court's Appraisal of Jarden opinion shows that stockholders should seek out appraisal proceedings arising from mergers with caution, and consider a fiduciary duty action based on an inadequate sales process if the buyer is a strategic buyer.