You are working for an aggressive private equity fund. You want to evaluate a possible acquisition of CovidVac plc, which specialises in producing a Coronavirus vaccine using mRNA technique. CovidVac has recently floated on the Alternative Investment Market (AIM) with an approximate market value of 15m. You are expected to offer between 16m to 20m to acquire CovidVac to set up a new company with 13m in debt and the balance in equity. The forecasts