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Earlier this year, Standard General announced that it is acquiring Tegna for $8.6 billion. Using the info below and the Combined Dividends & Earnings Model,

Earlier this year, Standard General announced that it is acquiring Tegna for $8.6 billion. Using the info below and the Combined Dividends & Earnings Model, determine whether Standard General will pay too much or too little for Tegna. Use three years (2024, 2025 and 2026) of cash flows.

2024202320222021EPS$3.10 Dividend0.44 DPO0.140.190.13 ROE0.18 Beta0.800 P/E 7.508.806.00Shares outstanding210,000,000

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