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In addition, the shares are sometimes traded, and shareholders of Kohler Co. might, for that reason, not be capable of promote their shares or not be capable to offer their shares with out loss of benefit. This could bring on a ‘marketability lower price,’ which reflects the lower price of illiquid shares. Could Herbert Kohler use these discounts to defend his valuation? How? What about the dissenting shareholders? How can they defend their relatively significant estimate of the worth?
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