In a comprehensive ruling handed down last week, the Grand Court of the Cayman Islands confirmed that minority shareholders of companies that undertake a ‘short-form’ merger are entitled to dissent from the merger and to be paid fair value for their shares, as determined by the Grand Court. The ruling, delivered in Changyou.com Limited, has wide-ranging implications, given that a number of Cayman Islands mergers have already been completed without dissent rights being offered to minority shareholders.
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