Two recent opinions by the Delaware Court of Chancery offer practical guidance to financial advisors in preparing discounted cash flow (DCF) analyses in connection with acquisitions. In one case,1 the court sustained challenges to the financial advisor’s valuation of the target. In the other case,2 the court criticized the financial advisor’s disclosure of the methodology it used in conducting its analyses. While the details of each decision are fact-specific, some useful generalizations can be drawn...