Appraisal Right
The right of shareholders to demand the fair payment of securities undergoing a merger by a third party valuator.
Investopedia Commentary
It's a protection policy for shareholders, preventing corporations involved in the merger from paying less than the company is worth to the shareholders.
Related Links
Knowing Your Rights As A Shareholder
See also: Acquisition, Appraisal, Merger, Takeover
appraisal right