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The Short And Puzzling Life Of The “Implicit Minority Discount” In Delaware Appraisal Law, Lawrence A. Hamermesh, Michael L. Wachter
The Short And Puzzling Life Of The “Implicit Minority Discount” In Delaware Appraisal Law, Lawrence A. Hamermesh, Michael L. Wachter
Lawrence A. Hamermesh
The “implicit minority discount,” or IMD, is a fairly new concept in Delaware appraisal law. A review of the case law discussing the concept, however, reveals that it has emerged haphazardly and has not been fully tested against principles that are generally accepted in the financial community. While control share blocks are valued at a premium because of the particular rights and opportunities associated with control, these are elements of value that cannot fairly be viewed as belonging either to the corporation or its shareholders. In corporations with widely dispersed share holdings, the firm is subject to agency costs that …
The Institute Of Delaware Corporate And Business Law New Name, New Directions, Lawrence A. Hamermesh
The Institute Of Delaware Corporate And Business Law New Name, New Directions, Lawrence A. Hamermesh
Lawrence A. Hamermesh
No abstract provided.
An Older, Balder Critique Of ‘Toward Common Sense And Common Ground’, Lawrence A. Hamermesh
An Older, Balder Critique Of ‘Toward Common Sense And Common Ground’, Lawrence A. Hamermesh
Lawrence A. Hamermesh
No abstract provided.