Could you solve for this question and explain it?

You work for a leveraged buyout firm and are evaluating a potential buyout of UnderWater Company. UnderWaters stock price is $20, and it has 2 million shares outstanding. You believe that if you buy the company and replace its management, its value will increase by 40%. You are planning on doing a leveraged buyout of UnderWater, and will offer $25 per share for control of the company.

a) Assuming you get 50% control, what will happen to the price of non-tendered shares?