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ABC has 1 million shares outstanding, each of which has a price of \$20. It has made a takeover offer of XYZ Corporation which has 1 million shares outstanding, and a price per share of $2.61. Assume that the takeover will occur with certainty and all market participants know this. Furthermore, there are no synergies to merging the two firms. a. Assume ABC made a cash offer to purchase XYZ for $4.60 million. What happens to the price of ABC and XYZ on the announcement? What premium over the current market price does this offer represent? b. Assume ABC makes a stock offer with an exchange ratio of 0.23. What happens to the price of ABC and XYZ this time? What The price of ABC on the announcement is $ per share. (Round to the nearest cent.) b. Assume ABC makes a stock offer with an exchange ratio of 0.23. What happens to the price of ABC and XYZ this time