Question
In: Finance
The shareholders of the Mango Company need to elect seven new directors. There are 920,000 shares...
The shareholders of the Mango Company need to elect seven new directors. There are 920,000 shares outstanding currently trading at $52 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you.
Solutions
Expert Solution
In this condition, as there will be 7 directors elected so each share has 7 voting power. So if there are 920,000 shares so equivalent votes will be = 920000*7 = 6440000
If no one else is going to vote then having half of the total equivalent votes or majority will secure a position for a director which is 6440000/2 = 3220000
So the number of shares to be present wih me to secure a position in the board as director = 3220000/7 = 460,000
jeff jeffy answered 2 years agoRelated Solutions
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