In Re the Appraisal of Shell Oil Co.

WALSH, Justice:

This is an appeal from a decision of the Court of Chancery in an appraisal action brought pursuant to 8 Del.C. § 262. Petitioners below-appellees (“petitioners”), former minority shareholders of respondent below-appellant Shell Oil Company (“Shell”), sought an appraisal of the fair value of Shell’s common stock on June 7, 1985, the date shareholders were cashed out at $58 per share. The cash out resulted from a short-form merger effectuated by Shell’s 94.6 percent majority stockholder, respondent below-appellant Shell Petroleum, Inc. (f/k/a SPNV Holdings, Inc.) (“Holdings”), 1…