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Question - Procta Ltd is determined to report earnings per share of R9.5. It therefore acquires JJ&J Company. You are given the following facts
Proctas Ltd
JJ&J
Merged firm
Earnings per share
R6.50
R8
R9.50
Price per share
R36
R21
?
Price-earnings ratio
18
7
Number of shares
50000
60000
Total earnings
R325,000
R480,000
Total market value
R5,850,000
R3,360,000
Once again there are no gains from merging. In exchange for JJ&J shares, Proctas Ltd issues just enough of its own shares to ensure its R2.67 earnings per share objective.
a. Complete the above table for the merged firm.
c. What is the cost of the cash offer if proctas ltd paid R2500000 for JJ&J?
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