Kent Industries has 200 million shares outstanding, a current share price of $30, and no debt. The company has $600 million of cash on its balance sheet that it does not require for its operating purposes. Kents management believes that the shares are underpriced, and that the true value is $35 per share. Kent announces a plan to pay the $600 million in cash to its shareholders by repurchasing shares. Assume that the share price reacts only partially to the companys announcement of its share repurchase plan by increasing to $32 per share. Suppose that soon after the completion of the repurchase transaction at $32 per share by the company, new information comes out that causes investors to revise their opinion of the firm and agree with managements assessment of Kents value. What is Kent Industries share price after the new information comes out? Does it equal $35 per share? Why or why not? Explain.