Recapitalization for Dye Trucking
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Dye Trucking raised $150 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $7.5. If Dye had 60 million shares of stock before the recap, how many shares does it have after the recap?
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Solution Summary
The solution explains how to calculate the number of shares after the recapitalization briefly and clearly.
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The repurchase would not change the value of the firm and so the ...
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