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Assume that an acquirer has premerger market capitalization of $600 million and stock beta of 1.60. On the day that the acquirer announces the bid,

Assume that an acquirer has premerger market capitalization of $600 million and stock beta of 1.60. On the day that the acquirer announces the bid, its stock return is 0.23%. On the same day, the market return is 0.36%. How much value, in million dollars, does the acquisition create (or destroy) for the acquiring firm's shareholders?

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