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Fair Value in Shareholder Dissent in the U.S.
This presentation addresses fair value, which is the predominant standard of value employed by state courts to determine the value of minority shares in appraisal cases. Fair value for appraisal is determined by state law. In most jurisdictions, fair value is the shareholder's pro rata portion of the value of a company's equity. It differs from fair market value, third-party sale value, and fair value for GAAP purposes.