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    Gresika Bunga Sylvana
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    Firm B sells 1 million shares currently sell for $12 each firm a prepares $18 per share tender offer and estimate gain of merger $6 million. How many percent of the merger gains will be captured by B's shareholders is 50%. Current one year interest rate = 4% in US and 8% in Spain Anticipated inflation in US = 2%. Expected inflation in spain is 5,92%.

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    Firm B sells 1 million shares currently sell for $12 each firm a prepares $18 per share tender offer and estimate gain of merger $6 million. How many percent of the merger gains will be captured by B's shareholders is 50%. Current one year interest rate = 4% in US and 8% in Spain Anticipated inflation in US = 2%. Expected inflation in spain is 5,92%.

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    20 views3 pages

    Tugas MK 2 - Gresika

    Uploaded by

    Gresika Bunga Sylvana
    Firm B sells 1 million shares currently sell for $12 each firm a prepares $18 per share tender offer and estimate gain of merger $6 million. How many percent of the merger gains will be captured by B's shareholders is 50%. Current one year interest rate = 4% in US and 8% in Spain Anticipated inflation in US = 2%. Expected inflation in spain is 5,92%.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 3

    Manajemen Keuangan 2 Setiyono, S.E., M.Si.

    jdsajdka

    Gresika Bunga Sylvana

    Ak

    Nama NIM Prodi

    = Gresika Bunga sylvana = 09/280378/EK/17311 = Akuntansi

    Angkatan = 2009

    Soal Nomor 1
    Diketahui : Firm B 1 million shares currently sell for $12 each Firm A Preparing $18 per share tender offer and estimate gain of merger $6 million Ditanya : How many percent of the merger gains will be captured by Bs shareholders ? Dijawab : NPV $6.000.000 $6.000.000 + $6.000.000 $12.000.000 = Overall gain - gain captured by Bs shareholders = Overall gain - $6.000.000 = Overall gain = Overall gain

    Percentage of gains captured by Firm Bs stockholders =


    gains captured by Firm B s stockholders overall gains

    X 100%

    million = million

    50%

    Percentage of the merger gains will be captured by Bs shareholders is 50%

    Manajemen Keuangan 2 Setiyono, S.E., M.Si.


    jdsajdka

    Gresika Bunga Sylvana

    Ak

    Soal Nomor 2
    Diketahui : Current one year interest rate = 4% in US and 8% in Spain Anticipated inflation in US = 2% Ditanya : If International fisher effect holds, what is the expected inflation in spain ? Dijawab : r r i i i

    ( 1.1016 0.0616

    i )

    = 1.04 + 1.04i = 1.04i =i

    0.05923 5.92%

    =i =

    The expected inflation in spain is 5,92%

    Soal Nomor 3
    Diketahui : Strike Price of Put Option = $60 Premium for the Put Option = $4 Selling Price of the Stock = $46

    Manajemen Keuangan 2 Setiyono, S.E., M.Si.


    jdsajdka

    Gresika Bunga Sylvana

    Ak

    Ditanya : Calculate the Profit per share for an Investor. Dijawab : Value of all caption = Excercise price Stock Price Total Profit of Put Total Profit Total Profit = Value of Put Option Premium Paid = $14 - $4 =$ 10 Value of Put Option = $60 - $46 = $14

    Profit per share for an Investor is $10

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