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- Title
THE SHORT AND PUZZLING LIFE OF THE "IMPLICIT MINORITY DISCOUNT" IN DELAWARE APPRAISAL LAW.
- Authors
Hamermesh, Lawrence A.; Wachter, Michael L.
- Abstract
The author reflects the implicit minority discount (IMD), a fairly new concept in Delaware appraisal law. The author cites that the case law reveals it has emerged haphazardly and has not been fully tested against principles that are generally accepted in the financial community. The author adds that while control share blocks are valued at a premium because of the particular rights and opportunities associated with control, these are elements of value that cannot be fairly viewed.
- Subjects
DELAWARE; JUDGE-made law; COMMON law; JUDICIAL opinions
- Publication
University of Pennsylvania Law Review, 2007, Vol 156, Issue 1, p1
- ISSN
0041-9907
- Publication type
Editorial