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Short Answer Is it reasonable to conclude from reading the article below that firms would achieve higher TSR by making acquisitions or stockpiling cash? Why

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Is it reasonable to conclude from reading thearticle belowthat firms would achieve higher TSR by making acquisitions or stockpiling cash? Why or why not? What additional information would you need to properly assess the impact on shareholder wealth of the various capital deployment choices described in thearticle below?

Article:The Envelope, Please: The 2012 Capital-Deployment Awards by Gregory V. Milano

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