ABC has 1.00 milion shares outstanding, each of which has a price of $17, It has made a takeover offer of XYZ Corporation, which has 1.00 million shares outstanding. and a price per share of \$2.71. Assume that the takeover will occur with certainty and all market participants know this. Furthermore, there are no synergies to merging the lwo firths: a. Assume ABC made a cash offer to purchase XYZ for $3.46 milion. What happens to the price of ABC and XYZ on the announcement? What premium over the current market price does this offer represent? b. Assume ABC makes a stock oller with an exchange ratio of 0.14. What happens to the price of ABC and XYZ this time? What premium over the current market price does this offer represent? c. At current market prices, both offers are offers fo purchase XYZ for $3.46 million. Does that mean that your answers to parts (a) and (b) must be identical? Explain. a. After ABC makes a cash offer to purchase XYZ for $3.46 milion, the price of XYZ is $ per share. (Round to the nearest cent.)