AQR Capital Management is challenging the valuation behind the $8.4bn take-private of Clearwater Analytics Holdings, adding to a growing push by hedge funds to use Delaware’s appraisal process to seek higher payouts from completed M&A deals, according to a report by Bloomberg.
AQR filed a petition in Delaware’s Court of Chancery seeking a judicial determination of the value of Clearwater shares following the completion of the transaction in June. Shareholders received $24.55 a share when the...
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