Question
Weeks ago, the consumer products giant, Unilever, announced plans to buy back 700,000 shares using a Dutch auction. Since then the company has solicited interest
Weeks ago, the consumer products giant, Unilever, announced plans to buy back 700,000 shares using a Dutch auction. Since then the company has solicited interest from shareholders by asking how many shares they would tender at different prices. The information they collected appears below.
| Price | Tendered |
| $54.00 | 200,000 |
| $54.10 | 350,000 |
| $54.20 | 500,000 |
| $54.30 | 650,000 |
| $54.40 | 800,000 |
| $54.50 | 925,000 |
What percentage of the shares offered by stockholders will be repurchased?
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To calculate the percentage of shares that will be repurchased we need to divide t...
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
12th edition
978-0324597714, 324597711, 324597703, 978-8131518571, 8131518574, 978-0324597707
