Harrods PLC has a market value of $137$ million and $5$ million shares outstanding. Selfridge Department Store has a market value of $39$ million and $3$ million shares outstanding. Harrods is contemplating acquiring Selfridge. Harrods$$s CFO concludes that the combined firm with synergy will be worth $191$ million and Selfridge can be acquired at a premium of $10$ million.

a$.$ If Harrods offers $1\mathrm{.}5$ million shares of its stock in exchange for the $3$ million shares of Selfridge, what will the stock price of Harrods be after the acquisition? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What exchange ratio between the two stocks would make the value of a stock offer equivalent to a cash offer of $49$ million?

I have the new stock price, but cannot figure the exchange ratio

Harrods PLC has a market value of $137$ million and $5$ million shares outstanding.

Selfridge Department Store has a market value of $39$ million and $3$ million shares

outstanding. Harrods is contemplating acquiring Selfridge. Harrods's CFO concludes that

the combined firm with synergy will be worth $191$ million and Selfridge can be acquired

at a premium of $10$ million.

If Harrods offers $1\mathrm{.}5$ million shares of its stock in exchange for the $3$ million shares of

a$.$ Selfridge, what will the stock price of Harrods be after the acquisition? $($Do not round

intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

What exchange ratio between the two stocks would make the value of a stock offer

b$.$ equivalent to a cash offer of $49$ million? $($Do not round intermediate calculations

and round your answer to $4$ decimal places, e$.$g$.,32\mathrm{.}1616.)$

Answer is complete but not entirely correct.