Main Question Set 14 Review Later Which of the following M&A transaction equations is correct? Value created = Stand-alone value + Net synergies - Transaction costs Value created = Hard synergies + Soft synergies - Transaction costs Value created = Stand-alone value + Net synergies - Consideration (price paid) Value created = Consideration (price paid) + Net synergies - Transaction costs Main Question Set 15 Review Later What should a company do if it wants to reduce the number of shares outstanding? Pay cash dividends Invest in more projects Issue more debt Repurchase shares