Cumulative Voting The shareholders of Solar Power Corp. need to elect four new directors to the...
Cumulative Voting
The shareholders of Solar Power Corp. need to elect four new
directors to the board. There are 14.3 million shares of common
stock outstanding and the current share price is $15.25. If the
company uses cumulative voting procedures, how much will it cost to
guarantee yourself one seat on the board of directors?
(Do not round your intermediate calculations.)
Homework Answers
Cost to guarantee one seat on the board of directors
=(14,300,000* 15.25) /4
=$ 54,518,750
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Cumulative Voting
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