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What price of the non-tendered shares after the leveraged

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Problem 1: Apex Corporation is a listed company with 5.8 million shares outstanding. In recent years, the performance of Apex Corporation deteriorates significantly, and its share price is only $12 per share now. Berrycords is considering a potential buyout of Apex Corporation, as the manager of Berrycords believes that the value of Apex Corporation will rise by 31.8% if Berrycords purchases Apex Corporation and changes its management. Berrycords is going to use a leveraged buyout with an offer of $14 per share to control Apex Corporation. If Berrycords obtains 50% control of Apex Corporation, the price of the non-tendered shares after the leveraged buyout will be closest to:

Reference no: EM132750038

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