Global Mickey Inc. has 26 million shares outstanding and a market capitalization of $1,823.12 million. The company plans to distribute $200 million to shareholders by repurchasing its own shares at the current market price. Assume perfect capital markets (ignore taxes and signaling effects).

Part 1

What should be the stock price just before the repurchase?

Part 2

How many shares will the company repurchase (in million)?

Part 3

What should be the stock price right after the repurchase?