The Delaware Court of Chancery again relied on a discounted cash flow analysis last week to determine the fair value of a private company’s stock when the parties’ experts significantly diverged.
In In re ISN Software Appraisal Litigation, Vice Chancellor Sam Glasscock III rejected as unreliable the valuation methods of three experts, which produced a $714 million spread on the value of ISN when it merged with a subsidiary in January 2013.
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