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ABC Ltd. is considering a takeover of XYZ Corp. ABC has 12 million shares outstanding with $45 per share. XYZ has 6 million shares outstanding

ABC Ltd. is considering a takeover of XYZ Corp. ABC has 12 million shares outstanding with $45 per share. XYZ has 6 million shares outstanding which sell for $25 per share. If ABC estimates that merger gains will be $10 million, determine what the highest price will be paid per share for the target.

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