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Acquiring Corporation is considering a takeover of Takeover Target Incorporated. Acquiring has 22 million shares outstanding, which sell for $20 each. Takeover Target has 11

Acquiring Corporation is considering a takeover of Takeover Target Incorporated. Acquiring has 22 million shares outstanding, which sell for $20 each. Takeover Target has 11 million shares outstanding, which sell for $10 each. If the merger gains are estimated at $22 million, what is the highest price per share that Acquiring should be willing to pay to Takeover Target shareholders?

highest price ?

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