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Arm Technologies has offered to purchase Hammer Group by exchanging one share of Arm for three shares of Hammer. Arm is currently trading at $50

Arm Technologies has offered to purchase Hammer Group by exchanging one share of Arm for three shares of Hammer. Arm is currently trading at $50 per share and Hammer is currently selling for $15 per share. What is the potential arbitrage profit per share of Arm Technologies?

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