Dundee $($Ltd$)$ is a dairy company which is in the process of negotiating the acquisition of Glencoe $($Ltd$).$ The management estimates that the acquisition will result in economies of scale and the additional benefits will amount to R$30$ million. Dundee $($Ltd$)$ is prepared to make a cash payment of R$55$ million for Glencoe $($Ltd$).$ The following information is available for the two companies:

Required:

$2\mathrm{.}1$ Calculate the value of the take$-$over.

$2\mathrm{.}2$ Calculate the net present value of the proposed take$-$over.

$2\mathrm{.}3$ Calculate the take$-$over premium.

$2\mathrm{.}4$ Determine the market price per share after the proposed take$-$over. $$

Assume that the take$-$over $($acquisition$)$ was based on earnings per share.

$2\mathrm{.}5$ Determine the exchange ratio based on earnings per share.

$2\mathrm{.}6$ Calculate the post take$-$over earnings per share.

$2\mathrm{.}7$ Calculate the benefits, if any, for both parties.