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METROMONT MATERIALS CORP. v. PENNELL

20570

270 S.C. 9 (1977)

239 S.E.2d 753

METROMONT MATERIALS CORP., Appellant-Respondent, v. Sarah Edith PENNELL, Frances Louise Pennell, Rebecca Pennell Parris, J. Roy Pennell, III, J. Roy Pennell, Jr., Custodian for Sarah Edith Pennell, Frances Louise Pennell, Rebecca Pennell Parris and J. Roy Pennell, III, Marjorie W. Pennell and Anderson Community Foundation, Inc., Respondents-Appellants.

Supreme Court of South Carolina.

December 15, 1977.

Attorney(s) appearing for the Case

Butler, Means, Evins & Browne, of Spartanburg, for Appellant-Respondent.

Jones, McIntosh, Threlkeld, Newman & Cox, of Anderson, for Respondents-Appellants, as Respondents.

Jones, McIntosh, Thelkeld, Newman & Cox, of Anderson, for Respondents-Appellants, as Appellants.

Butler, Means, Evins & Browne, of Spartanburg, for Appellant-Respondent, as Respondent.

December 15,1977.

RHODES, Justice:

This is an action under South Carolina's dissenting stock appraisal statute, S.C. Code § 33-11-270 (1976), for the valuation of 126 shares of common stock in Pennell Land Company (Incorporated). Pennell Land Company was merged into Metromont Materials Corporation on May 6, 1975 and it is from this merger that the holders of the 126 shares in question have dissented. The lower court awarded $900 per share as the "fair...

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