Cases & Investigations
Bristow Group Inc. Appraisal Litigation

Wolf Popper was counsel to The Funicular Fund, LP in its Appraisal Action against Bristow Group Inc.  Funicular’s Petition for Appraisal asked the Delaware Court of Chancery to award Funicular the fair value of Funicular’s 67,776 shares of Bristow common stock.
 
The Appraisal Action related to the June 11, 2020 merger between Bristow and Era Group, through which Bristow and Era combined in an all-stock transaction.  Pursuant to the merger, each share of Bristow common stock was converted into 0.502096 shares of Era common stock.  As a result of the merger, Bristow shareholders own 77% of the equity of the new company, and Era shareholders own 23% of the equity of the combined company.  The combined company uses the Bristow Group name and trades in the New York Stock Exchange under the stock ticker “VTOL.”  The Funicular Fund sought appraisal for its Bristow shares because it believed the fair value of those shares is substantially more than the merger consideration.
 
The Funicular Fund and Bristow resolved the demand for appraisal of Funicular’s shares of Bristow common stock.  The Appraisal Action was dismissed by stipulation on September 14, 2021.

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