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Calculate the exchange ratio (new shares / old shares) for the following transaction. Assume the equity issuance is performed as a share for share

Calculate the exchange ratio (new shares / old shares) for the following transaction. Assume the equity issuance is performed as a share for share exchange. Buyer Target 548.21 53.54 Share price Acquisition premium Shares outstanding Target net debt to be refinanced % equity financing 23.4% 1996.1 1096.2 5051 68.8%

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