Chancery Court Cites Flawed Process in its Resort to Traditional Valuation Methodology and Reliance on All Relevant Factors in a Recent Appraisal Action
By Jill B. Louis and Rashida Stevens
The Delaware Court of Chancery determined that a flawed deal process kept the merger price from being a reliable indication of value in the Blueblade Capital Opportunities LLC and Blueblade Capital Opportunities CI LLC (collectively, “Blueblade”) v. Norcraft Companies, Inc. (“Norcraft”) (C.A. No. 11184-VCS (Del. Ch. July 27, 2018)), appraisal action.