Sporborg v. City Specialty Stores, Inc.

Seitz, Chancellor:

As a consequence of a merger of Oppenheim Collins & Co., Inc. (“Opcol”) and Franklin Simon & Co. into City Specialty Stores, Inc., certain owners of stock of Opcol dissented and requested an appraisal of their shares. The appraiser fixed the value at $30.61 per share as of January 30, 1953, the effective date of the merger. Both the corporation and the dissenting shareholders have filed exceptions to the report of the appraiser and this is the decision thereon.

*564Preliminarily, it is well established that in an appraisal proceeding under our statute the shares must be valued on…