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How many new shares must the firm issue

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Schwartz Industry is an industrial company with 103.52 million shares outstanding and a market capitalization (equity value) of $4.41 billion. It has $1.21 billion of debt outstanding. Management have decided to delever the firm by issuing new equity to repay all outstanding debt (Question 14-8, Berk and Demarzo, 2017) i. How many new shares must the firm issue?

Reference no: EM132510031

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