Austin v. City Stores Co.

AleSSANDRONI, J.,

These proceedings were instituted under the provisions of the Act of May 5, 1933, P. L. 364, sec. 908, 15 PS §2852-908, as amended, providing for the appraisal at “fair value” of the dissenting shares to a corporate merger. The shares which refuse to assent to the merger must be appraised at their “fair value” as of the day prior *58to the date of the vote on the merger. At issue here are 12,760 dissenting shares of Lit Brothers, which has since merged with City Stores.

The voting day was February 20, 1951, hence the shares must be appraised as of February 19, 1951. The appraisal…