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Rudy's and Blackstone are all-equity firms. Rudy has 1200 shares outstanding at a market price of $36 a share. Blackstone has 2500 shares outstanding at

Rudy's and Blackstone are all-equity firms. Rudy has 1200 shares outstanding at a market price of $36 a share. Blackstone has 2500 shares outstanding at a price of $38 a share. Blackstone is acquiring Rudy's for $48,000 in cash. What is the merger premium per share?

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