Late last week, the Delaware Court of Chancery issued an important post-trial decision in In re Appraisal of PetSmart, Inc., an appraisal proceeding arising out of a private equity buyer’s acquisition of PetSmart, Inc., determining that the merger price equaled statutory fair value.

In this alert, we discuss the Court’s decision and its ramifications on appraisal litigation arising out of M&A transactions, particularly those involving private equity buyers. We also discuss an additional post-trial decision issued today in In re Appraisal of SWS Group, Inc., where the Court held that fair value was less than the merger price.

View the alert.