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Eddie Publishings value of operations is equal to $2000 million after a recapitalization. (The firm had no debt before the recap.) Eddie raised $450 million
Eddie Publishings value of operations is equal to $2000 million after a recapitalization. (The firm had no debt before the recap.) Eddie raised $450 million in new debt and used this to buy back stock. Lee had no short-term investments before or after the recap. After the recap, wd =30%. The firm had 50 million shares before the recap. What is npost (the number of shares after the recap)? (in millions)
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