Sat.Feb 10, 2018 - Fri.Feb 16, 2018

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Chancery Court Hands Down Ruling in Aruba Networks

Appraisal Rights

Today Vice Chancellor Laster issued his ruling in the Aruba Networks appraisal case. The award set the stock’s fair value at Aruba’s thirty-day average unaffected market price, which was $17.13 per share, well below the merger price of $24.67.

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Outlook for Appraisal in 2018

Appraisal Rights

Cooley LLP provided a recap of 2017 M&A, along with an outlook for 2018 for Lexology , which includes a discussion of appraisal conditions in private M&A deals. We have blogged previously about the possibility of acquirers including appraisal conditions in public deals. This 2018 M&A Outlook is a good reminder of the role that appraisal plays in mergers of non-public companies.

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Arkansas Teachers Fund OKs More Money for Appraisal

Appraisal Rights

As reported by Pensions & Investments , the Arkansas Teachers Retirement System has committed $30 million to an alternative asset manager specializing in appraisal opportunities. Further highlighting the focus on appraisal, the Fund committed an additional $30 million to a different fund, but agreed to expand that fund to include appraisal. As we’ve blogged about before, appraisal can be both a critical investor protection and a viable way for investors to increase returns in M&A deals.