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RICHARDSON v. PALMER BROADCASTING CO.

No. 83-168.

353 N.W.2d 374 (1984)

Julie H. RICHARDSON and William B. Richardson, Executors of the Estate of Burdick N. Richardson, Deceased, Parker H. Ficke, Successor Trustee of the Trust Under the Will of G.H. Ficke, Deceased, Charles Blair, Executor of the Estate of Lucy R. Walsh, Deceased, Appellees, v. PALMER BROADCASTING COMPANY, an Iowa Corporation, and Palmer Broadcasting Company, A Delaware Corporation, Appellants.

Supreme Court of Iowa.

Rehearing Denied September 17, 1984.

Attorney(s) appearing for the Case

Charles Blair and Edward B. Harris of Nagle, Blair & Harris, Davenport, for appellees.

R. Richard Bittner and Robert D. Lambert of Betty, Neuman, McMahon, Hellstrom & Bittner, Davenport, and Albert H. Turkus of Dow, Lohnes & Albertson, Washington, D.C., for appellants.

Considered by REYNOLDSON, C.J., and McCORMICK, SCHULTZ, CARTER and WOLLE, JJ.

CARTER, Justice.

The issue on this appeal concerns the determination of the "fair value" of 128 shares of stock in Palmer Broadcasting Company, an Iowa corporation, which were owned by shareholders who dissented from a plan of merger of that corporation with Palmer Broadcasting Company, a Delaware corporation. The dissenting shareholders are entitled to such determination of fair value under Iowa Code section 496A.78 (1977). The district court found the fair value...

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