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Handy Mart is being acquired by Spiffy Retail for $47,725 worth of Spiffy Retail stock. Handy Mart has 2,500 shares of stock outstanding at a price of $18 a share. Spiffy Retail has 6,000 shares outstanding with a market value of $23 per share. The incremental value of the acquisition is $4,200. a) How many new shares of the acquirer's stock will be issued to pay for the target? b) How many shares will the acquirer have after the merger is completed?
Sagot :
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