New Built Wants to Repurchase 15,000 of Its Shares at $32

question 73

Multiple Choice

New Built wants to repurchase 15,000 of its shares at $32 a share through a tender offer.Shareholders responded by offering 18,500 shares.Assume you are a shareholder and offered your 400 shares as part of the shareholder response.How many of your shares should you expect New Built to purchase?

• A)0 shares
• B)400 shares
• C)348 shares
• D)324 shares
• E)279 shares

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Definitions:

British Mind

Reflects the intellectual, cultural, and historical perspectives or mentality characteristic of the British people or Britain as a whole.

Boycott Movement

Organized efforts to abstain from purchasing or using goods and services from a particular company, country, or organization as a form of protest or to force change.

Colonial Economy

Economic systems and practices in colonies, often characterized by exploitation of resources, labor, and the establishment of trade networks benefiting the colonial powers.