Question
Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 100,000 shares of its stock in an open auction.
Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 100,000 shares of its stock in an open auction. Suppose the company receives the bids in the following table.
| Shares | Price | ||
| 20,000 | $ | 80 | |
| 10,000 | 78 | ||
| 15,000 | 73 | ||
| 25,000 | 70 | ||
| 10,000 | 69 | ||
| 8,000 | 67 | ||
| 14,000 | 66 | ||
| 15,000 | 65 | ||
| 30,000 | 61 |
| |
What is the maximum price at which the company can sell its stock?
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Essentials Of Financial Management Text And Cases
Authors: George C Philippatos
1st Edition
0816267162, 978-0816267163
