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Almony Ltd has announced a cash offer to acquire Bricker Co. Almony Ltds shares are trading at $27 and there are 3 million shares of

Almony Ltd has announced a cash offer to acquire Bricker Co. Almony Ltds shares are trading at $27 and there are 3 million shares of outstanding. Bricker Cos shares are trading at $4 and there are 1.5 million shares outstanding. Almony Ltd estimates that the acquisition will incur integration costs of $400,000 each year for the first three years. Almony Ltd expects to be able to reduce overlapping capital expenditures by $750,000 in the first five years of the acquisition. The required rate of return for Almony Ltd is 8%. Assume cash flows occur at the end of each year. Based on this information , what is the maximum price Almony Ltd can offer before destroying shareholder value?

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