Andaloro v. PFPC Worldwide, Inc.

OPINION

STRINE, Vice Chancellor.

This is an appraisal action brought by petitioners John J. Amdaloro and Robert J. Perlsweig against respondent PFPC Worldwide, Inc. The petitioners seek appraisal of the value of the shares and options they owned in PFPC before it was merged with an acquisition vehicle of PFPC’s indirect parent, PNC Financial Services Group, Inc., in a short-form merger under 8 Del. C. § 253 in which PFPC was the surviving entity. Both of the petitioners were PFPC executives before the merger.

The issue now before the court is a discrete one that is purely legal in nature: 1 Can…