There are only three questions, that need to sum up to 500 words for an answer. Each of them are from the Hershey Corporation Case 49.Estimate the stand-alone value of HFC, using the free-cash-flow projections provided in case Exhibit 10. Discuss the feasibility of the pro forma estimates.Which bid (if any) would you vote to accept for the purchase of HFC? Is your decision primarily based on the economics of the bids or on the desire to honor the legacy of Milton S. Hershey?If you decided to reject both bids and not sell HFC, what will you do to achieve the diversification objective? If you decided to accept one of the bids, what (if anything) would you want to communicate to the constituents who opposed the sale?
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