DE Bar Practice Questions - Delaware Bar Examination Exam

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Under DGCL § 262, a stockholder who did not vote in favor of a merger may exercise appraisal rights. Which of the following correctly describes the appraisal remedy?

The stockholder can block the merger from going forward until a fair price is determined The Court of Chancery determines the fair value of the shares, which may be higher or lower than the merger price The stockholder automatically receives a premium of 10% above the merger price Appraisal rights are available only if the stockholder holds more than 1% of the outstanding shares

Correct Answer:

The Court of Chancery determines the fair value of the shares, which may be higher or lower than the merger price

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