Assume that their current share price is 15 per share and they have 12 million shares outstanding. They hold 40 million in debt and have cash reserves of 1 million. Based on these figures, what would be the cost of buying your competitor? Assume there are no additional fees or taxes, but the cost of taking over the company is determined by its value and would occur in year 0.

Assume your FP&A department has forecast a target cash flow and projected growth rates as indicated in the Excel file.

find cash out flow for year 0-5?