ABC has 1 million shares outstanding, each of which has a price of \$24, It has made a takeower offer of XYZ Corporation which has 1 million shares cutstanding, and a price per share of $273. Assime that the takeover will occur with certainty and alf market participants know this. Furthermore, there afe no synergies to merging the two firms. a. Assume ABC made a cash offer to purchase XYZ for $3.84 million. What happens to the price of ABC and XYZ on the announcement? What premium over the curronk market price does this offer represent? b. Assume ABC makes a stock offer with an exchange ratio of 0.16 . What happons to the price of ABC and XYZ this time? What premium over tho current market price does this offer represent? c. At current market prices, both offers are offers to purchase XYZ for $3.84 million. Does that mean that your answers to parts (a) and (b) must be identical? Explain. a. Assume ABC made a cash offer to purchase XYZ for $3.84 million. What happens to the price of ABC and XYZ on the announcement? The price of XYZ is on the announcement is ? per share. (Round to the nearest cent.)