Kaiser Shipyards Inc.is San Francisco-based ship builder which specializes in Liberty and Victory class cargo ships.The CEO,Henry Kaiser,wants to distribute $1B of cash using an open market stock repurchase.Assume that the company repurchases 11.650% of shares outstanding at a price of $62.725.What is the stock price after the repurchase?
Kaiser Shipyards Inc.
Selected Financial Information
A) $62.725
B) $63.650
C) $64.878
D) $78.725
E) $81.200
Correct Answer:
Verified
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