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SIEG CO. v. KELLY

No. 96-61.

568 N.W.2d 794 (1997)

SIEG COMPANY, Appellee, v. Denis M. KELLY, Individually and as Successor Trustee of the Ann M. Kelly Grantor Trust, and John F. Kelly, Appellants.

Supreme Court of Iowa.

September 17, 1997.

Attorney(s) appearing for the Case

Gerald J. Newbrough and Thomas M. Zurek of Nyemaster, Goode, McLaughlin, Voigts, West, Hansen & O'Brien, P.C., Des Moines, for appellants.

Michael L. Noyes and Teri A. Sandeman of Noyes & Gosma, Davenport, for appellee.

Considered by LARSON, P.J., and CARTER, SNELL, ANDREASEN, and TERNUS, JJ.

TERNUS, Justice.

This action is brought pursuant to Iowa Code chapter 490 (1993) to obtain a court appraisal of the fair value of stock owned by appellants. Appellants are shareholders of Sieg-Fort Dodge Company who dissented to the merger of Sieg-Fort Dodge into appellee Sieg Company (hereinafter "Sieg"). The dissenters rejected the price offered by Sieg for the purchase of their stock and as a consequence, Sieg filed this appraisal action. After a bench trial resulted...

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