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IN RE HESSTON CORP.

No. 68,384

254 Kan. 941 (1994)

870 P.2d 17

IN THE MATTER OF HESSTON CORPORATION (Appraisal and Determination of Value of $1.60 Cumulative Convertible Preferred Stock). HESSTON CORPORATION, Appellee/Cross-Appellant, v. LATHAM G. KAYS, JOAN H. KAYS; ROBERT L. PARLETTE; LINDA EVANS PARLETTE; NICHOLAS A. HALFORD; SANTA CLARA VALLEY CORP.; ALFRED L. ANNA; BLANCHE E. ANNA; JAMES P. BROOKS; JANICE M. BROOKS; LILLIAN A. COLBY, JR.; CHRISTOPHER R. DRESS; NORMAN L. GUITTAR; NORMAN L. GUITTAR, Trustee UA for Norman L. Guittar Trust; JOHN W. HEMMER; JOHN F. HUTSON; JAY JOHNSON; ELEANORE A. KIRCHMER, Trustee for Eleanore A. Kirchmer Trust; JOHN MEYER; BARBARA H. MEYER; ROY E. PARTENHEIMER; MARGARET G. PARTENHEIMER; GEORGE J. SCHODROSKI; LEONORA A. SCHODROSKI; RUSSELL P. SIEBERT; JEAN M. SIEBERT; GREEN VALLEY CORP.; SALINAS VALLEY CORP.; BARRY SWENSON; MOLLY SWENSON; F.X. FITZPATRICK; JOHN LLEWELLYN; and JUDITH LLEWELLYN, Appellants/Cross-Appellees.

Supreme Court of Kansas.

Opinion filed March 11, 1994.

Attorney(s) appearing for the Case

Deborah A. Elvins, of Stoel, Rives, Boley, Jones & Grey, of Seattle, Washington, argued the cause, and Kenneth G. Gale, of Focht, Hughey & Calvert, of Wichita, was with her on the briefs for appellants.

Robert L. Howard, of Foulston & Siefkin, of Wichita, argued the cause, and Gerald Sawatzky and Trisha A. Thelen, of the same firm, were with him on the briefs for appellee.

The opinion of the court was delivered by

ALLEGRUCCI, J.:

This case involves a dispute between Hesston Corporation (Hesston) and certain holders of its $1.60 Preferred Stock (dissenters) over the price the dissenters should receive for their stock for the purpose of a cash-out merger. Hesston initiated the action, seeking appraisal of the stock under K.S.A. 17-6712 and validation of the terms of the merger. Dissenters counterclaimed for recovery of the stock...

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