Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Eat-a-Peach Inc. is a Georgia-based peach farming company. Eat-a-Peach is trading for $10.00 per share and has 500 million shares outstanding. The company has excess
Eat-a-Peach Inc. is a Georgia-based peach farming company. Eat-a-Peach is trading for $10.00 per share and has 500 million shares outstanding. The company has excess cash of $1,105 million that it wants to distribute using a fixed-price tender offer. It has announced that it will pay $13 per share and use all of its excess cash. What will the stock price be after the repurchase? Round your answer to the nearest cent
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started