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Mergers Stock Prices

McDermott Will & Emery

Dual Track Reboot: Five Key Considerations for Supercharging Your Life Science Company Exit

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There have been 44 initial public offerings (IPOs) listed on the US stock markets in 2024 thus far, many of which continue to trade at a premium to their initial offering price, demonstrating the strength and buoyancy of...more

Smith Anderson

Fourth Circuit Rejects Shareholders’ Security Fraud Claims Based on Optimistic Projections for Merged Company

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In a recent decision,  the Fourth Circuit considered a class action lawsuit brought by shareholders of a biopharma company, INC Research Holdings, Inc. (now Syneos Health Inc.). The shareholders had voted to approve a merger...more

Skadden, Arps, Slate, Meagher & Flom LLP

In Appraisal Cases, Court of Chancery Increases Deal Price-based Valuation if Evidence Shows Pre-Closing Change

For the purposes of a statutory appraisal under Delaware law, a corporation’s fair value is determined “on the date of the merger” ― in other words, at closing, not signing. However, deal terms, including price, are typically...more

Kilpatrick

4 Key Takeaways: The Outlook for Industry Consolidation and Considerations for Deal-Making Given Uncertain Macro/Industry Backdrop...

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Kilpatrick Townsend’s Gary Bronstein recently joined Jeffries’ Ken Usdin (Large-Cap Banks) and Casey Haire (Mid-Cap Banks) on the “Bank M&A Expert Call” to discuss the outlook for industry consolidation and considerations for...more

ArentFox Schiff

Investigations Newsletter: Where’s the Beef? Two Charged with $650 Million Cattle Ponzi Scheme

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Where’s the Beef? Two Charged with $650 Million Cattle Ponzi Scheme - On May 12, the Department of Justice (DOJ) announced that a federal district court in Colorado unsealed an indictment alleging that two individuals ran...more

Goodwin

Massachusetts Superior Court BLS Finds No Duty To Disclose Alleged Preliminary Merger Discussions

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Massachusetts Superior Court BLS Finds No Duty to Disclose Alleged Preliminary Merger Discussions, Northern District of California Declines to Dismiss Oracle Fraud Class Action Suit, SCOTUS Hears Oral Argument in Goldman...more

Morris James LLP

Delaware Supreme Court Affirms Use of Unaffected Market Price to Determine Public Corporation’s “Fair Value” in Appraisal...

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Fir Tree Value Master Fund, L.P. v. Jarden Corp., No. 454, 2019 (Del. July 9, 2020) - Adding to its appraisal jurisprudence, the Supreme Court of Delaware recently affirmed the use of the unaffected trading price of a...more

A&O Shearman

Delaware Supreme Court Affirms Appraisal Ruling Relying On Unaffected Market Price To Determine Fair Value

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On July 9, 2020, in an en banc opinion authored by Chief Justice Collins J. Seitz, Jr., the Delaware Supreme Court affirmed a decision by the Delaware Court of Chancery, which relied on the unaffected stock price of Jarden...more

White & Case LLP

M&A MAC Clauses – Implications of Coronavirus

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Trends in Material Adverse Change Clauses – Implications of Coronavirus on M&A Transactions - On M&A transactions deal certainty may be a key negotiation issue. Whilst a seller may be reluctant to concede a material...more

Robins Kaplan LLP

Financial Daily Dose 1.27.2020 | Top Story: Apple Stock Has Surged Over 2019, Consumers Divided on Future

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Apple stock has surged over the past year, but consumers are divided over the stock price’s future. Apple’s software services and hardware products create an identity crisis that impacts the company’s future valuations....more

Robins Kaplan LLP

Financial Daily Dose 1.10.2020 | Top Story: Ransomware Attack on Travelex Sows Chaos Across Foreign Exchange Sector

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Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more

Morris James LLP

Chancery Explains When Deal Price is a Persuasive Indicator of Fair Price in an Appraisal Proceeding

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In re Appraisal of Stillwater Mining Co., Consol. C.A. No. 2017-0385-JTL (Del. Ch. Aug. 21, 2019). Recent Delaware Supreme Court decisions on appraisal proceedings have stressed the pivotal importance of the deal price in...more

Jones Day

Delaware Supreme Court Endorses Deal Price In Statutory Appraisal Action

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The decision makes clear that deal price is an appropriate indicator of fair value even where there is only one bidder. In Verition Partners Master Fund, Ltd. v. Aruba Networks, Inc., the Delaware Supreme Court reversed a...more

A&O Shearman

Delaware Supreme Court Finds Deal Price Minus Synergies As Fair Value In Aruba Networks Appraisal Appeal, Rather Than Average...

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On April 16, 2019, the Delaware Supreme Court, in a per curiam decision, held that Aruba Networks, Inc.’s (“Aruba”) fair value in an appraisal action was $19.10 per share, reversing the Court of Chancery’s valuation of $17.13...more

Morris James LLP

Delaware Takes the Lead in Litigation Reform

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Once again, there are demands to reform corporate litigation. (See, e.g., Kevin LaCroix, “Time for Another Round of Securities Class Action Litigation Reform,” The D&O Diary, Oct. 23, 2018.) But once again, the Delaware...more

Skadden, Arps, Slate, Meagher & Flom LLP

Dell and Fair Value in Statutory Appraisal Actions

The development of Delaware appraisal law has continued with the Delaware Supreme Court’s highly anticipated December 2017 appraisal opinion in Dell, Inc. v. Magnetar Global Event Driven Master Fund Ltd. In Dell, the court...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The White House has chosen Columbia University economist Richard Clarida as Fed Vice Chair—the number 2 spot at the central bank. Clarida is a “monetary policy scholar” and former Bush II administration Treasury official....more

McCarter & English, LLP

Delaware Law Updates - 2016 Year in Review

Our Delaware Corporate and Alternative Entity Law attorneys closely followed the opinions coming from Delaware’s Supreme Court and Court of Chancery. Our 2016 Year in Review is a collection of brief summaries of selected...more

Cadwalader, Wickersham & Taft LLP

2016 Year In Review: Securities Litigation And Regulation

2016 was an active year in securities litigation. In the first half of 2016 alone, plaintiffs filed 119 new federal class action securities cases. It was also a busy year for SEC enforcement proceedings, with a record 868...more

Cadwalader, Wickersham & Taft LLP

Process Is Paramount: The Delaware Court of Chancery Gives “100% Weight” to Merger Price in Determining Company’s Fair Value in...

On December 16, 2016, the Delaware Court of Chancery issued a post-trial opinion in an appraisal proceeding arising from the acquisition of Lender Processing Services, Inc. (“LPS” or the “Company”) by Fidelity National...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 10.3.16

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Deutsche Bank’s penchant for dealing in risk—in the form of currency swaps, bond sales, or derivatives, among others—has left it (and its highly leveraged balance sheet) particularly vulnerable amidst last week’s news of...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.6.16

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Dealbook gives us the story of Airgas, where founder Peter McCausland’s reticence to sell (despite serious shareholder pressure) resulted in a $5 billion windfall rather than the all-too-often result of a later sale for...more

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