In June 2017 Omni Development Corp. proposed a merger with RedStar, Inc. via a pure share exchange in which Omni would exchange 1.43291 of its shares for every RedStar share. Fiscal year 2016 data for each company were as follows: Net income. Common shares. Stock price (pre-announcement) 42.3 M 33.4 M. Omni $68.0 M RedStar $48.5 M $36.25 $42.88 What price is Omni offering for one share of RedStar? What is the percent premium?