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What will postmerger earnings per share be for barnes

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Reference no: EM132989741

Assume the following financial data for the Noble Corporation and Barnes Enterprises:

                                                                                 Noble Corporation                   Barnes Enterprises

Total earnings                                                      $1,775,000                         $6,820,000

Number of shares of stock outstanding                       710,000                             3,410,000

Earnings per share                                                        $2.50                              $2.00

Price-earnings ratio (P/E)                                                   20                                 25

Market price per share                                                       $50                                 $50

Problem 1: If all the shares of the Noble Corporation are exchanged for those of Barnes Enterprises on a share-for-share basis, what will postmerger earnings per share be for Barnes Enterprises?

Reference no: EM132989741

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