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Teldar Paper (TP) has 541,277 shares of stock outstanding with a current market value of $79.92...

Teldar Paper (TP) has 541,277 shares of stock outstanding with a current market value of $79.92 a share. You own 60,681 of those shares. Next month, the election will be held to select three new members to the board of directors. The firm uses a straight voting system. How much additional money do you need to spend to guarantee that you will be elected to the board of TP assuming that everyone else votes for one of the other candidates. Round your answer to the nearest dollar.

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Answer #1
total number of share outstanding = 541,277
50% of total share = 270639
a Required number of share =               270,639
b Existing holding = 60,681
c=a-b Further buy required for               209,958
e Price per share 79.92
f=c*e money need to spend = $ 16,779,843.36
ans = $      16,779,843
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