Wolf Popper Files Petition for Appraisal on Behalf of The Funicular Fund Against Bristow Group Inc.
Wolf Popper is counsel to The Funicular Fund, LP in its Appraisal Action against Bristow Group Inc. Funicular’s Petition for Appraisal asks the Delaware Court of Chancery to award Funicular the fair value of Funicular’s 67,776 shares of Bristow common stock. The Appraisal Action relates 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 is seeking appraisal for its Bristow shares because it believes the fair value of those shares is substantially more than the merger consideration.