TRI-CONTINENTAL CORPORATION v. BATTYE


74 A.2d 71 (1950)

TRI-CONTINENTAL CORPORATION v. BATTYE et al.

Supreme Court of Delaware.

June 8, 1950.


Attorney(s) appearing for the Case

William Prickett, of Wilmington, and Wm. Dwight Whitney (of Cravath, Swaine & Moore), of New York City, for appellants.

Charles F. Richards (of Richards, Layton & Finger), of Wilmington, and George Rosier and Zelig R. Nathanson (of Austrian & Lance), all of New York City, for appellees.

TERRY, CAREY, LAYTON and WOLCOTT, JJ., sitting.


WOLCOTT, Judge, delivering the opinion of the Court:

Section 61 of the General Corporation Law Code 1935, § 2093, provides that upon the merger of a corporation, stockholders who object to the merger and who fulfill the statutory requirements to register their objection shall be paid the value of their stock on the date of the merger, exclusive of any element of value arising from the expectation or accomplishment of the...

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