Question

Teldar Paper (TP) has 627,052 shares of stock outstanding with a current market value of $77.02...

Teldar Paper (TP) has 627,052 shares of stock outstanding with a current market value of $77.02 a share. You own 78,798 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.

Homework Answers

Answer #1
Total number of share = 627,052
50% of share = 313526
a Required share for assuming 1 director = 313527
313526+1
b Existing number of share = 78,798
c=a-b New share puchase required = 234,729
d Price per share = 77.02
e=d*c Additional $ investment required = $      18,078,828
ans = $      18,078,828
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