DELL v. MAGNETAR GLOBAL MASTER FUND

No. 565, 2016.

177 A.3d 1 (2017)

DELL, INC., Respondent-Below, Appellant/Cross-Appellee, v. MAGNETAR GLOBAL EVENT DRIVEN MASTER FUND LTD; Magnetar Capital Master Fund Ltd; Global Continuum Fund, Ltd; Spectrum Opportunities Master Fund Ltd.; Morgan Stanley Defined Contribution Master Trust; Blackwell Partners LLC; Aamaf, LP; Wakefield Partners, LP; CSS, LLC; Merlin Partners, LP; William L. Martin; Terence Lally; Arthur H. Burnet; Darshanand Khusial; Donna H. Lindsey; Douglas J. Joseph Roth Contributory Ira; Douglas J. Joseph & Thuy Joseph, Joint Tenants; Geoffrey Stern; James C. Aramayo; Thomas Ruegg; Cavan Partners LP; and Rene A. Baker, Petitioners-Below, Appellees/Cross-Appellants.

Supreme Court of Delaware.

Decided: December 14, 2017.


Attorney(s) appearing for the Case

Gregory P. Williams, Esquire (argued), John D. Hendershot, Esquire , Susan M. Hannigan, Esquire , and Andrew J. Peach, Esquire , Richards, Layton & Finger, P.A., Wilmington, Delaware. Of Counsel: John L. Latham, Esquire , and Susan E. Hurd, Esquire , Alston & Bird LLP, Atlanta, Georgia; Gidon M. Caine, Esquire , Alston & Bird LLP, East Palo Alto, California; and Charles W. Cox, Esquire , Alston & Bird LLP, Los Angeles, California, for Appellant/Cross-Appellee Dell Inc.

Stuart M. Grant, Esquire (argued), Michael J. Barry, Esquire , Christine M. Mackintosh, Esquire , and Rebecca A. Musarra, Esquire , Grant & Eisenhofer P.A., Wilmington, Delaware, for Appellees/Cross-Appellants Morgan Stanley Defined Contribution Master Trust; AAMAF, LP; CSS, LLC; Merlin Partners, LP; William L. Martin; Terence Lally; Arthur H. Burnet; Darshanand Khusial; Donna H. Lindsey; Douglas J. Joseph Roth Contributory IRA; Douglas J. Joseph & Thuy Joseph, Joint Tenants; Geoffrey Stern; James C. Aramayo; Thomas Ruegg; and Rene A. Baker.

Samuel T. Hirzel, II, Esquire (argued), and Melissa N. Donimirski, Esquire , Heyman Enerio Gattuso & Hirzel LLP, Wilmington, Delaware. of Counsel: Lawrence M. Rolnick, Esquire , and Steven M. Hecht, Esquire , Lowenstein Sandler LLP, New York, New York, for Appellees/Cross-Appellants Magnetar Global Event Driven Master Fund Ltd; Magnetar Capital Master Fund Ltd; Global Continuum Fund Ltd; Spectrum Opportunities Master Fund Ltd; Blackwell Partners LLC; and Wakefield Partners LP.

Before STRINE, Chief Justice; VALIHURA, VAUGHN, and TRAYNOR, Justices; and LeGROW, Judge constituting the Court en Banc.


The petitioners left standing in this long-running appraisal saga are former stockholders of Dell Inc. ("Dell" or the "Company") who validly exercised their appraisal rights instead of voting for a buyout led by the Company's founder and CEO, Michael Dell, and affiliates of a private equity firm, Silver Lake Partners ("Silver...

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