Matt Levine, Columnist

Voting Mistakes and Financial Choice

Also CDO trading, Libor manipulation, teen traders, Warcraft tickets and Theranos vampire fan fiction.

June 7, 2016 at 12:56 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Dell did a management buyout in 2013. Some shareholders objected to the deal, arguing that the buyout group -- led by Michael Dell and Silver Lake -- was getting the company too cheaply. So they voted against it and sought appraisal in a Delaware court. Last week the court agreed with them, finding that Dell was worth $17.62 per share rather than the $13.75 that the buyout group paid for it. So everyone who sued for appraisal will get an extra $3.87 per share plus interest.