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Acquiring company's D/E is equal to 1, and the target company's D/E is equal to 1. If after a takeover offer announcement, the acquiring company

Acquiring company's D/E is equal to 1, and the target company's D/E is equal to 1. If after a takeover offer announcement, the acquiring company had a new corporate debenture issue, where the cash proceeds of the capital raising were to be used by the acquirer to buy all shares in the target company, what effect (if any) would this have on the company capital structure after a successful merger?      

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