Certain statutory steps must be taken within prescribed timeframes in order for dissenters to avail themselves of their entitlement to be paid fair value for their former shareholdings under section 238. Following the extension of appraisal rights to short-form mergers in Changyou.com, the timeframes in which some of these steps must be taken are triggered by different events, depending on whether the merger is in long or short-form.
The steps and the relevant time periods for compliance for both long and short-form mergers are summarised in this timeline.
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