Shares belonging to T. Rowe Price & Associates, one of Dell’s largest investors, will not be part of a massive appraisal action arising out of Dell’s $25 billion going-private merger, the Court of Chancery ruled last week.
In In re Appraisal of Dell, T. Rowe Price had argued its shares were eligible for appraisal, even though a technical glitch caused the shares to be voted in favor of the deal. Under Delaware law, shares are only eligible for appraisal if the record holder did not support or vote in favor of the transaction.
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