"The surveying of damage is underway, but I cannot make an
appraisal right now.
Industry users of appraisal services add their own level of interpretation to the regulations along with lender and investor guidelines, making it almost impossible for a residential appraiser to get the
appraisal right the first time.
(149.) James Vorenberg, Exclusiveness of the Dissenting Stockholder's
Appraisal Right, 77 HARV.
Shareholders holding shares through CVSA on June 11, 2019 who were absent from the General Shareholders Meeting may exercise the right under article 22 of the Company's articles of association ('
Appraisal Right') to have such shares repurchased by the Company at the arithmetic average of the closing Argentine peso sale price per share as reported by BYMA for the ninety (90) calendar-day period immediately preceding the date of the General Shareholders Meeting, which equals ARS 566.55 (five hundred and sixty-six Argentine pesos with fifty-five cents) per share.
debate about the usefulness- -if any--of the
appraisal right today,
Mobis has set 233,429 won per share as the price for the
appraisal right. If Mobis' stock price falls below this, shareholders who oppose the spinoff-merger can oblige Hyundai to buy back their shares at that price.
By preserving investors' right to obtain their aggregate going-concern value (as the appraisal statute requires), the
appraisal right helps protect against unfair and inefficient transfers to lower valuing buyers, providing more credible minimum price protection than the target's board itself may be willing/able to muster.
the
appraisal right is available, its benefits to the minority vary
perverts the true purpose of the statutory
appraisal right. (121) The
All remaining shares of LDR common stock not purchased in the tender offer (other than treasury shares held by LDR, any shares owned by Zimmer Biomet, LH Merger Sub Inc., or any direct or indirect subsidiary of Zimmer Biomet or LDR, and any shares held by any LDR stockholder who has properly demanded
appraisal rights) will be converted into the right to receive the same per share consideration of $37 in cash, without interest, less any deductions or withholding of taxes required by applicable law, that will be paid in the tender offer.
The fund group says it will make payments to affected clients "to compensate them for the difference in valuation, plus statutory interest, resulting from the denial of
appraisal rights."
In connection with the merger, all shares of Ruckus common stock not validly tendered into and accepted in the exchange offer, other than shares of Ruckus common stock with respect to which
appraisal rights under the DGCL had been properly exercised and shares of Ruckus common stock owned, directly or indirectly, by Brocade or Ruckus (including shares held as treasury stock or otherwise), were cancelled and converted into the right to receive the merger consideration in the same amounts offered in the exchange offer.
