Weeks ago, the consumer products giant, Unilever, announced plans to buy back 700,000 shares using a Dutch
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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 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?
Related Book For
Fundamentals of Financial Management
ISBN: 978-0324597707
12th edition
Authors: Eugene F. Brigham, Joel F. Houston
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