Bayer AG is seeking to acquire Monsanto Co, but the managers of Bayer are concerned that regulators may consider the merger an antitrust violation. The U.S corn seed market consists of eight competitors. Bayer is the largest company with a 38.5 % market share and the second largest company is Monsanto with a 31.5% market share. Syngenta AG, the third largest player shows a 10% market share while the remaining five competitors each have a 4% market share. What would be the increase in the Herfindahl-Hirschman Index (HHI) as a result of the merger and the most likely reaction by regulators to the merger?