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Moore Industries has agreed to be acquired by Scott Enterprises for 800 shares of Scott Enterprises...

Moore Industries has agreed to be acquired by Scott Enterprises for 800 shares of Scott Enterprises stock. Scott Enterprises currently has 7,500 shares of stock outstanding at a price of $28 a share. Moore Industries has 1,800 shares outstanding at a price of $12 a share. The incremental value of the acquisition is $1,100. What is the value per share of Scott Enterprises stock after the acquisition?

Multiple Choice

  • $27.52

  • $27.96

  • $28.04

  • $28.47

  • $31.03

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