Jacques Coe & Co. v. Minneapolis-Moline Co.

Seitz, Vice Chancellor:

An appraiser acting under Section 61 of our General Corporation Law, Rev.Code 1935, § 2093, appraised the preferred and' common stock of stockholders who chose not to accept the terms of a merger. This is the decision on exceptions to the appraiser’s report.

The defendant corporation’s preferred stock contract provided for a liquidation price of $110 per share plus accrued dividends. They amounted to $29.60 as of February 21, 19,49. The call price was of an equal aggregate amount. The contract had certain provisions for retiring the preferred stock, but the corporation…