Bidder has 450 million shares on issue and is trading at $7.  Target has 150 million shares on issue.  Bidder makes a mixed offer of $2 plus 0.4 for 1 (Target share) for Target. Assuming Bidder obtains 100% of Target, how many shares will the merged entity have on issue?

a)553 million

b)525 million

c)630 million

d)210 million

e)510 million

Answer rating: 100% (QA)

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