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MATTER OF SHELL OIL CO.

607 A.2d 1213 (1992)

In the Matter of the Appraisal of SHELL OIL COMPANY.

Supreme Court of Delaware.

Decided: May 26, 1992.

Attorney(s) appearing for the Case

Richard L. Sutton, William O. LaMotte, III and Robert J. Valihura, Jr., Morris, Nichols, Arsht & Tunnell, Wilmington (Rory O. Millson (argued), Cravath, Swaine & Moore, New York City, of counsel), for appellants.

Clark W. Furlow, Smith, Katzenstein & Furlow, Thomas P. Preston and John L. Olsen, Duane, Morris & Heckscher and Lawrence C. Ashby, Ashby & Geddes, Wilmington (H. Lee Godfrey (argued), and Kenneth E. McNeil, Susman Godfrey, Houston, Tex., and Edward M. Selfe, Bradley, Arant, Rose & White, Birmingham, Ala., of counsel), for appellees.

Before MOORE, WALSH, JJ., and TAYLOR, Judge (sitting by designation pursuant to Del. Const. art. IV, § 12).

WALSH, Justice:

This is an appeal from a decision of the Court of Chancery in an appraisal action brought pursuant to 8 Del.C. § 262. Petitioners below-appellees ("petitioners"), former minority shareholders of respondent below-appellant Shell Oil Company ("Shell"), sought an appraisal of the fair value of Shell's common stock on June 7, 1985, the date shareholders were cashed out at $58 per share. The cash out...

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