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What would adaptec ex-dividend share price be

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Problem 1: After the market close on May 11, 2001, Adaptec, Inc. distributed a dividend of shares of the stock of its software division, Roxio, Inc. Each Adaptec shareholder received a 0.1646 share of Roxio stock per share of Adaptec stock owned. At the time, Adaptec stock was trading at a price of $10.55 per share (cum-dividend), and Roxio's share price was $14.23 per share. In a perfect market, what would Adaptec's ex-dividend share price be after this transaction?

Reference no: EM132696750

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