Multiple Choice
The Sheridan Corporation is considering a merger with the Kent Company which has 600,000 outstanding shares selling for $20. An investment dealer has advised that to succeed in its merger Sheridan Corp. would have to offer $40 per share for Kent's stock. Sheridan Corp. stock is selling for $25. How many shares of Sheridan Corp. stock would have to be exchanged to acquire all of Kent's stock?
A) 960,000
B) 600,000
C) 750,000
D) not enough information to calculate.
Correct Answer:
Verified
Correct Answer:
Verified
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