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A firm has 1 0 1 shareholders. 1 0 0 of the shareholders each own 1 share. The remaining shareholder is an activist hedge fund

A firm has 101 shareholders. 100 of the shareholders each own 1 share. The remaining shareholder is an activist hedge fund manager who owns 11 shares. The current share price is $14 per share. Management is trying to buyout the activist hedgefund manager using "greenmail." Management offers to buyout the hedge fund manager's shares at $24 per share. If this goes through, what will be the percentage decline in the share value of the 100 remaining shares? Give your answer to the nearest 0.1%. The answer is 7.9

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