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 $129 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 $129 million. Devonshire Inc. has 4.3 million shares outstanding at a current market price of $73 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 Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
