Question: 4 . Before a potential merger, PJ ' s LawnCare had 1 2 , 6 0 0 shares outstanding at a market price per share

4. Before a potential merger, PJ's LawnCare had 12,600 shares outstanding at a market price per share of $26.80. Cutting Edge Lawn Service has 4,450 shares outstanding at $28.60 per share. Assume PJ's LawnCare has estimated the value of the synergistic benefits from acquiring Cutting Edge Lawn Service to be $6,400. Neither firm has outstanding debt. PJs has offered $29.45 per share to the target.

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