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can someone show me step by step how x becomes 460.2273 For shareholders of T to be indifferent between the cash offer and stock offer,

can someone show me step by step how x becomes 460.2273

For shareholders of T to be indifferent between the cash offer and stock offer, we must have: $51,400x 1000 + x $16,200 Solving for x, we obtain x = 460.2273

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