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Blaine Kitchen Ware

In: Business and Management

Submitted By katty76
Words 290
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Decision of Repurchase- The dilemmaBlaine Kitchenware Inc. is faced with a dilemma as to not go for the suggested buyback or to payheed to the investment banker and repurchase its own shares. And also if BKI does repurchase itsshares, should it only partially repurchase the market float or should it go for complete buyback ( inwhich the Blaine family becomes the owner of all the remaining shares).Also they have to think of the effect of repurchase on the various factors like the risks involved inraising a debt for repurchasing (especially when the company is by and large very conservative andit is debt free), its acquisition plans ( which is mainly done by cash and BKI stocks), the earningsper share, dividend per share (which will become more flexible as now the shares will be with thefamily shareholders only and thus a reduction in dividends can be easily accepted), ownershipstructure, capital structure and of course the reputation of the company in the market after thebuyback.Therefore, we can consider three scenarios and then analyze the effect of these on the abovementioned factors and then decide whether Blaine should follow them keeping in mind the existingshareholders' perspective as well as Blaine's controlling family perspective.These scenarios are:1. BKI should not go for any buyback of shares.2. BKI should go for only partial repurchase, by using only its cash and cash equivalents andmarketable securities and not raising any debts.3. The company should buy its entire market float and let the controlling family be theshareholders of the remaining shares.Each of these scenes is evaluated and calculations will give us an idea about whether the buyback isjustifiable or not. And also the different perspectives of family and minority share holders have onthis...

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