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Using the following information, establish the maximum number of new shares that Boron Inc. could issue to pay for Cobalt Inc if Boron's shareholders will
Using the following information, establish the maximum number of new shares that Boron Inc. could issue to pay for Cobalt Inc if Boron's shareholders will only approve the transaction, where proforma EPS is no lower than 2.05.Assume that the deal was 100% stock financed.Round your answer to 1 decimal place.
Boron Inc.'s net income315.0
Boron Inc.'s outstanding shares143.0
Boron Inc.'s share price64.00
Cobalt Inc.'s net income70.0
Cobalt Inc.'s outstanding shares44.0
Cobalt Inc.'s share price35.00
Minimum proforma EPS2.05
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