G is considering the acquisition of T. The share price and net income of each company prior to the announcement are as follows:

	G		T
Stock price (pre-announcement)	$30		$22
Net income ($ million)	$80		$37.5
Shares outstanding (million)	40		15
EPS	$2		$2.50
Market Value ($ million)	$1,200		$330

G pays $30.80 cash per share and present value of synergies is estimated at $100 million.

a) The gain (loss) per share for Company G is:

b) Now assume that instead of giving cash of $30.80 per share, G gives 1.03 shares of G for each share of T. The gain (loss) per share for Company G is: