Question: ABC Corporation is purchasing DEF Corp using an asset swap so that it is tax-free to the owners of DEF Corp. DEF's EBITDA is 118.5

ABC Corporation is purchasing DEF Corp using an asset swap so that it is tax-free to the owners of DEF Corp. DEF's EBITDA is 118.5 million and the price that ABC pays is 6 times EBITDA. If the owners of DEF Corp. have a tax rate of 19.4%, what is the equivalent price in millions if DEF is sold to a cash buyer

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