Holdersofconvertiblepreferredhaveapreferenceinliquidat

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Unformatted text preview: nvertible Preferred Stock Holders of convertible preferred are entitled to $2.67 dividends per share. Each share of convertible preferred stock is entitled to 3/10 of a vote per share. Holders of convertible preferred have a preference in liquidation over common shareholders amounting to $30.50. Each share of convertible preferred is convertible into 6.601 shares of common stock. Fortune Brands has an option to redeem each share at a price of $30.50; upon redemption, the preferred shareholder will receive that cash amount and will surrender that share to the company. P&G’s Preferred Stock P&G’s Preferred Stock Hewitt’s Common Stock Hewitt’s Common Stock Par value of $0.01...
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