Question
Tecumseh Inc. is analyzing the possible merger with Devonshire Inc. Savings from the merger are estimated to be a one-time after-tax benefit of $123 million.
Tecumseh Inc. is analyzing the possible merger with Devonshire Inc. Savings from the merger are estimated to be a one-time after-tax benefit of $123 million. Devonshire Inc. has 4.1 million shares outstanding at a current market price of $71 per share.
What is the maximum cash price per share that could be paid for Devonshire Inc.?(Omit $ sign in your response.)
Maximum cash price per share
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Contemporary Financial Management
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
10th Edition
978-0324289114, 0324289111
