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Danali Corporation has 2,500,000 shares of common stock outstanding. Danali has a 15-member board, and five will leave at the end of this year. There
Danali Corporation has 2,500,000 shares of common stock outstanding. Danali has a 15-member board, and five will leave at the end of this year. There are nine candidates for these five open seats. The minority group of stockholders controls 45 percent of the shares, and the majority group controls the other 55 percent.
Alliances are shifting, and Danali Corporation now has 35 percent of the voting shares controlled by the minority group and 65 percent by the majority.
a. How many directors can now be elected for the minority group? | |
b. How many voting shares would be needed if the minority group wanted two directors under the revised group breakdown? |
I got no answer so I solved them myself:
A: 2
B: 833,334
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