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Acquiring Corporation is considering a takeover of Takeover Target Incorporated. Acquiring has 2 4 million shares outstanding, which sell for $ 2 5 each. Takeover

Acquiring Corporation is considering a takeover of Takeover Target Incorporated. Acquiring has 24 million shares outstanding, which sell for $25 each. Takeover Target has 12 million shares outstanding, which sell for $18 each. If the merger gains are estimated at $36 million, what is the highest price per share that Acquiring should be willing to pay to Takeover Target shareholders?
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