Growth Corporation is trading at $102 per share on 11/1/06 when it makes a bid of 0.667 shares of Growth Corp. for each outstanding share of Target Corp. Target has 40 million shares outstanding, and Growth Corp. has approximately 30 million shares outstanding. Target closed at $50 per share on 10/31/06.

On 11/19/06, Bidder Corp. makes a bid of 2.5 shares of Bidder’s stock for each share of Target. Bidder is trading at $29 on 11/19/06 with 90 million shares outstanding.

The fair market value of Target’s net identifiable assets is $1,020 million at the time of the offers. Target’s expected earnings for 2006 are $250 million.

Growth Corporation’s earnings for 2006 are expected to be $125 million. Bidder Corporation’s earnings for 2006 are expected to be $330 million.

[A] How much of a percentage premium over the market price was Growth Corporation prepared to pay for Target?

[B] Assuming the stock market is efficient, why would one company be prepared to pay a premium over current market value to acquire another company? 

APPLICATION OF ADULT LEARNING THEORY PAPER: INSTRUCTIONS AND GRADING CRITERIA

GENERAL INSTRUCTIONS

In this assignment, students will write a four—five page paper that describes one adult learning theory that is not covered in the textbook (e.g. Transformational Learning, Experiential Learning, Constructivist Learning, etc.)  how that theory incorporates or aligns with the principles/assumptions of adult learning as described in Chapter 2 of the textbook and in our class discussion, how the theory & principles are practically applied in the classroom and workplace, and the ways the student has personally experienced them in his/her own education, work life, or any other training setting. The Adult Learning Theory and principles covered should include adult learning in general as well as college learning (PLEASE NOTE: learning theories and principles DO NOT include general laws of learning). A minimum of five sources is required for this assignment (one of these can be the textbook).

SPECIFIC GUIDELINES

Papers must include ALL of the following:

1. A clear title for the paper (not “Application of Learning Theory Essay”);
2. An introduction that includes all of the following:

• overview of the paper
• clear thesis statement
• preview of the main points
• an attention getter/interesting opening would be great as well, though not required;

1. The body of the paper should include sections that cover each of the following:

• Overview/Explanation of the Adult Learning Theory: This section should include a review of your research into the theory as well as explanation and examples so the reader gains a general understanding of the theory. In addition, this section should include specific ways that the theory incorporates or aligns with the Adult Learning Principles/assumptions as discussed in Chapter 2. 
• Practical Application: In this section, explain and describe specific examples of how the adult learning theory is, or can be, practically applied in real learning situations (college classroom, business settings, as well as online). Please be sure to include how they might be applied in a COMM80 workshop. 
• Personal Experience: Comment on the ways that the learning theory & principles affected your own education and learning experience in the classroom, at work, as well as any other learning environment. Be sure to provide specific examples.

1. A complete conclusion that does all of the following:

• summarizes key ideas
• reiterates the thesis or central theme of the paper
• a thoughtful closing statement

1. In-text citations and a reference list in APA format for all sources cited in the paper. 
2. Finally, essays should be well organized (e.g. ideas flow logically; paragraphs develop one key idea; clear transitions between paragraphs and key sections of the paper. 

FORMAT: Essays should be typed in 10 – 12 pt font (nothing larger than 12 pt), double-spaced (except the heading, which should be single-spaced in the upper right-hand corner), one-inch margins, and grammatically correct. Please include your name, date, and course section single spaced in the upper right-hand corner, and a clear, thoughtful title for the paper centered over the text of the paper.

PLEASE NOTE: in order to conserve resources, please DO NOT include a cover page.

SUBMISSION FORMAT: Please upload a copy of your paper to Canvas AND submit a hard copy in class on Monday. 

This paper is worth up to 75 points.