Hi Mark,
Recently LMT sold a business to LDOS which resulted in an exchange offer of shares of LMT for shares of LDOS. Each share of LMT was exchanged for 8.2136 shares of LDOS while fractional shares were paid in cash.
To illustrate, 99 shares of LMT exchanged for 813 shares of LDOS plus $5.93 of cash.
What's the best way to record this transaction?
Thanks.