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QUESTION 10 Heinz is planning on merging with Kellogg. Heinz currently has 51,000 shares of stock...

QUESTION 10

  1. Heinz is planning on merging with Kellogg. Heinz currently has 51,000 shares of stock outstanding at a market price of $26 a share. Kellogg has 62,000 shares outstanding at a price of $19.50 a share. The merger will create $215,000 of synergy. How many of its shares should Heinz offer in exchange for all of Kellogg s share if it wants its acquisition cost to be $1,320,000?

    44,860

    45,370

    46,244

    47,077

    48,912
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