What is the value to shareholders of the restructuring proposed by Kraft based on your assumptions?Discuss
Phillip Morris offers to purchase all Kraft common stock at $90 per share in cash. This represents a 50% premium over the previous day’s close of $60.125 per Kraft share. Kraft announces a recapitalization plan which it values at $110 per share, $84 in cash, $14 in high yield debt (“cram-down debt”), and the remaining […]