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Business, 03.03.2020 20:25 mikeeway33

The Master Manufacturing Company has just announced a tender offer for its own common stock. Master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. After the announcement of the offer, the stock closed on the NYSE up 2.50 at $18.75. If a customer had 100 shares and sold at tomorrow's opening price, what is the price that he would receive per share?
A. $18.75
B. $20.00
C. $20.50
D. $21.25

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