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Suppose you own stock in Toto Corp, which currently sells for $ 2 5 per share. Another company has just announced that it wants to

Suppose you own stock in Toto Corp, which currently sells for $

25

per share.

Another company has just announced that it wants to buy all of Toto's outstanding

stock for $

35

per share. Toto's management immediately starts fighting off this

hostile bid. Is mantagement acting in the shareholders' best interests? Why or why

not? Explain briefly.

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