In Pursuit of a “Fair Price”

Yoshinobu Fujimoto and Takahiko Date will give a lecture entitled “In Pursuit of a ‘Fair Price’ - Issues to Consider When Dealing with Dissenting or Minority Shareholders in M&A Transactions in Japan, and an Analysis of Japanese Courts’ Decisions on What Constitutes a “Fair Price” for Shares After an Exercise of Appraisal Rights” at a webinar hosted by Law.com.

The webinar is free on demand at the Law.com web site until the end of December; please register from the link below to view it.

Seminar Details

Calculating the “fair price” that publicly listed companies, in particular, should be forced to pay dissenting or minority shareholders who have exercised their appraisal rights in M&A transactions in Japan is a topic that has drawn increasing attention recently. Our portion of the seminar is intended to provide a brief discussion of:

• The availability and characteristics of appraisal rights generally under Japanese law;
• Differences in the roles and reasons for the exercise of appraisal rights in Japan (in comparison to the United States), for example, why dissenting shareholders in Japan tend to rely on appraisal rights rather than a claim for a breach of fiduciary duties;
• The latest court practices in determining a “fair price”; and key points for consideration in dealing with dissenting or minority shareholders.