An attorney for Aruba Networks urged the Delaware Supreme Court on Wednesday to uphold a Chancery Court decision that looked to the company’s stock price to determine fair value in a $3 billion sale to Hewlett-Packard Co. in 2015.
The closely watched appraisal appeal, argued before the state’s five justices in Dover, has magnified a deep divide in Delaware’s legal community and is expected to provide guidance on the role that a firm’s unaffected market price plays in appraisal cases.
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