Kaiser Shipyards Inc. is San Francisco-based ship builder which specializes in Liberty and Victory class cargo ships
The CEO, Henry Kaiser, wants to distribute $1B of cash using an open market stock repurchase. Assume that the company repurchases 11.650% of shares outstanding at a price of $62.725. What is the stock price after the repurchase?
Kaiser Shipyards Inc.
Selected Financial Information
Stock Price $62.725
Cash $1,000M
Market Capitalization $9,408.75M
Shares Outstanding 150M
Debt $0
A) $62.725
B) $63.650
C) $64.878
D) $78.725
E) $81.200
A
You might also like to view...
Which of the following statements is true regarding leaders and responsibility?
A. CEOs get to enjoy high salaries, but responsibility lies at lower levels of the organization. B. CEOs have managed to be less responsible and accountable than in the past. C. CEOs are being held to higher levels of accountability than ever before. D. CEO misconduct has very little impact on the long-term results for organizations.
After installing a new HVAC system, what should Frank's Heating & Air Conditioning do, according to the personal selling process?
What will be an ideal response?
A trust for the establishment and maintenance of a nonprofit museum would be a charitable trust
Indicate whether the statement is true or false
A majority action of partners is not binding if it contravenes the partnership agreement
Indicate whether the statement is true or false