August 4, 2015
Appraisal Arbirtrage: Is There a Delaware Advantage?
With yet another appraisal arbitrage decision in Delaware being widely written about – Longpath Capital v. Ramtron International (see these memos) – check out this paper written by the Analysis Group entitled “Appraisal Arbirtrage: Is There a Delaware Advantage?” The article posits that there are three significant economic advantages available to appraisal arbitrageurs under the current Delaware appraisal regime, each of which advantages parties seeking appraisal and creates an incentive for appraisal arbitrage.