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ABC Corp. has offered1.5 million shares having a total market value of $9 million for XYZ Corp. After the merger is announced, shares in ABC

ABC Corp. has offered1.5 million shares having a total market value of $9 million for XYZ Corp. After the merger is announced, shares in ABC trade for $5.5 each. If ABC is condent about XYZ's value, what has happened to the cost of the merger?

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