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Which of the following statements is most CORRECT? a. When Texaco purchased Getty Oil, many financial analysts felt that the deal made sense because it increased Texaco's market share and expanded its shrinking oil reserves. This merger exemplified the belief among the natural resource companies that buying reserves through acquisitions was less costly than exploring and finding them in the field. b. When Mobil Oil Company tried to acquire Conoco, which was another oil company, stockholders were concerned that the U.S. Justice Department would try to block the merger because it would lessen competition. Thus, antitrust considerations affected this proposed horizontal merger. c. Firms that are acquired usually have a market price below book value before the merger offer is made. However, once the initial offer is made, the price can rise above book value, but the purchase price, especially in large acquisitions, generally remains within 20% of book value. d. Answers a and b are correct. e. All of the statements above are false.
Compute the penalty that the agent can impose if he concludes that the improper deduction was due to Ms. Hsui's negligence in preparing her tax return. Compute the penalty that the agent can impose if he concludes that the improper deduction represen..
Explain the type of business organisation and it's ownership This should include : The business's name, the form of business organisation, (Partnership, Sole trader or limited company)
National Health Corporation (NHC) has a cumulative preferred stock issue outstanding, which has a stated annual dividend of $8 per share. The company has been losing money and has not paid preferred dividends for the last five years. How much is the ..
The Claxton Company manufactures children's toys and also has a division that makes automobile parts. Due to a change in its strategic focus, the company sold the automobile parts division. The division qualifies as a component of the entity accordin..
You own a portfolio that is 33 percent invested in Stock X, 48 percent in Stock Y, and 19 percent in Stock Z. The expected returns on these three stocks are 9 percent, 12 percent, and 14 percent, respectively. What is the expected return on the portf..
Adjusting a portfolio to make its duration neutral is sometimes referred to as immunizing the portfolio, a term that indicates it is being protected against interest rate changes. When the durations of a firm's assets and liabilities are significantl..
As an equity analyst you are concerned with what will happen to the required return to Universal Toddler Industries stock as market conditions change. Suppose rRF=5% rM =12% and bUTI = 1.4. Under the current conditions what is rUTI, the required rate..
Which ONE of the following statements about the payback method is true? The payback method is consistent with the goal of shareholder wealth maximization. There is no economic rational that links the payback method to shareholder wealth maximization.
Refer to Lancaster Engineering Inc. (LEI) information below, what is LEI’s weighted average cost of capital (WACC)? LEI’s corporate income tax rate is 40%. Investors expect LEI’s dividend to grow at a constant rate of 9% in the future. LEI has just p..
Today is January 1, 2015. Starting today you plan to invest $2000 every year, first deposit today and last deposit on January 1, 2034. After that, you plan to leave the money in the same account until January 1, 2040. The interest rate is 4% compound..
Option 1 is a fully automated machine with an initial investment of $ 6,000,000 with an annual maintenance cost of $12,000. The machine has a salvage value of $80,000 at the end of 25 years. The cost of producing each part is $10 each. Find the Annua..
If Company A is considering the replacement of its old, fully depreciated knitting machine. Two new models are available: Machine 190-3, which has a cost of $219,000, a 4-year expected life, and after-tax cash flows (labor savings and depreciation) o..
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