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Author Question: Willys-Overland Motors Inc. produces 44 quarter-ton trucks. Selected financial information for ... (Read 88 times)

@Brianna17

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Willys-Overland Motors Inc. produces 4×4 quarter-ton trucks. Selected financial information for Willys-Overland is provided in the table below. 
The CEO, John Willys, wants to distribute $1B of cash using a stock repurchase. He intends to repurchase 15 million shares at a price of $70. Mr. Willys owns 22.5 million shares (worth $1,395 million before the repurchase). He does not plan to sell any of his shares during the repurchase. What is his wealth after the repurchase?

Willys-Overland Motors Inc.
Selected Financial Information
Stock Price$62
Cash$1,000M
Shares Outstanding150M
Debt$0

◦ $1,375M
◦ $1,280M
◦ $1,385M
◦ $1,390M
◦ $1,395M


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Marked as best answer by @Brianna17 on Apr 25, 2021

cloudre37

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@Brianna17

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Reply 2 on: Apr 25, 2021
YES! Correct, THANKS for helping me on my review


aruss1303

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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