- Plaintiff
- American Commercial Lines Inc.
- Represented By:
- Farrell , Derrick (Abrams & Bayliss LLP)
- Defense
- IQ Holdings, Inc.
- Represented By:
- Wawro, Mark (Susman Godfrey LLP)
This is an appeal from a post-trial appraisal decision by the Court of Chancery that adopted cost of debt assumptions inconsistent with Section 262 of the Delaware General Corporation Law and generally accepted valuation principles to appraise 250,000 shares of American Commercial Lines Inc. stock held by IQ Holdings, Inc. as of December 21, 2010, the date that certain affiliates of Platinum Equity LLP acquired ACLI in an all-cash merger for $33.00 per share. Following trial, the Court of Chancery issued a post-trial order on March 18, 2013 which relied almost exclusively on the discounted cash flow model used by ACLIs expert to value ACLIs stock on the Merger Date. In this oral argument before the Delaware Supreme Court, ACLI contended that the the Court of Chancery erred on four separate points relating to ACLIs cost of debt.
The judgment of the Court of Chancery was affirmed.
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