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regarding "long-term total return prospects" for Winn-Dixie stock
addressed the short-term prospects as of the valuation date
regarding the NYSE price of that stock over the relatively short
5-to-6 month period after that date over which the parties and all
the experts agree it would have taken ADDI&C to sell its Winn-
Dixie stock under the dribble-out method.
Mr. Pratt determined that a 10-percent blockage and/or SEC
rule 144 discount should be applied to the NYSE price of Winn-
Dixie on the valuation date. However, as stated above, we
disagree with Mr. Pratt's view that it was likely that ADDI&C
would have sold its Winn-Dixie stock in a private placement,
rather than under the dribble-out method. In addition, Mr. Pratt
did not explain in his expert report, as required by Rule 143(f),
how he arrived at a 10-percent blockage and/or SEC rule 144
discount, and we did not find his limited explanation in his
rebuttal report and at trial of how he determined the amount of
that discount to be particularly helpful. See Rule 143(f)(1). On
the record before us, we shall not rely on Mr. Pratt's opinion as
to whether a blockage and/or SEC rule 144 discount should be
applied to the NYSE price of ADDI&C's Winn-Dixie stock on that
date, nor shall we rely on his view regarding the amount of any
such discount that should be applied in the event that we were to
find that use of such a discount is warranted in the instant case.
Mr. Howard determined in his rebuttal report that a 4.9-
percent blockage and/or SEC rule 144 discount should be applied to
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