Use the Information for the Question(s)below

question 47

Multiple Choice

Use the information for the question(s) below.
Rockwood Industries has 100 million shares outstanding,a current share price of $25,and no debt.Rockwood's management believes that the shares are underpriced,and that the true value is $30 per share.Rockwood plans to pay $250 million in cash to its shareholders by repurchasing shares.Management expects that very soon new information will come out that will cause investors to revise their opinion of the firm and agree with Rockwood's assessment of the firm's true value.
-If Rockwood is able to repurchase shares prior to the market becoming aware of the new information regarding Rockwood's true value,then the number of shares outstanding following the repurchase is closest to:

• A)92 million.
• B)10 million.
• C)75 million.
• D)90 million.

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Definitions:

High-Quality Products

Goods that exceed the standard expectations in performance, durability, and reliability.

Eating Out

Refers to the activity of dining in restaurants or other food establishments rather than at home.

Carb-Friendly

A term used to describe foods that are low in carbohydrates, catering to diets that restrict carb intake for health or weight loss reasons.

Authenticity

The quality of being genuine, real, or authentic, often considered as a valuable trait for products, services, and experiences in various industries.