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 $180 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 $180 million. Devonshire Inc. has 6.0 million shares outstanding at a current market price of $90 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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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
