The Court of Appeal has clarified that, while the court should take into account evidence of a genuine third-party offer to acquire shares in determining the fair market value of the shares, the offer is not invariably the best evidence of the shares’ fair market value. Appropriate weight must in each case be ascribed to the offer based on its specific terms and nature: Abhilash s/o Kunchian Krishnan v Yeo Hock Huat and another [2019] SGCA 14.
This update takes a look at the Court of Appeal’s decision.
If you would like information on this or any other area of law, you may wish to contact the partner at WongPartnership that you normally work with or any of the following partners:
NG Wai King
Managing Partner
d +65 6416 8022
e waiking.ng@wongpartnership.com
Click here to see Wai King’s CV.
Andrew ANG
Head – Corporate/Mergers & Acquisitions Practice
d +65 6416 8007
e andrew.ang@wongpartnership.com
Click here to see Andrew’s CV.