Opinion ID: 1536001
Heading Depth: 1
Heading Rank: 5

Heading: Respondents' Valuation

Text: The Respondents relied upon the expert testimony of Robert Reilly (Reilly) at trial. He testified that, as of the Merger date, the fair value of MGB common stock was $41.90 per share. Reilly arrived at that conclusion by performing two separate valuations: the discounted cash flow method and a capital market analysis. Reilly did not add any control premium to the values of MGB's two subsidiaries, because he determined that a control premium was inappropriate in valuing a holding company such as MGB. The Respondents did not call anyone from the Sheshunoff firm as an expert witness at trial, even though Sheshunoff s valuation had served as the basis for setting the $41 per share Merger price consideration.