$$Company$\text{'}$s stock price is $$$$35\mathrm{.}00,$ and the firm has $2$ million shares outstanding. You believe you can increase the$$ company's value if you buy it and replace the management. Assume that BAD has a poison pill with a $25\%$ trigger. If$$ triggered, all BAD$\text{'}$s shareholderslong dashother than the acquirerlong dashwill be able to buy one new share in BAD for each share they own at a $75\%$ discount. Assume that the price remains at $$$$35\mathrm{.}00$ while you are acquiring your shares. If BAD$\text{'}$s management decides to resist your buyout$$ attempt, and you cross the $25\%$ threshold of$$ ownership:

a$.$ How many new shares will be issued and at what$$ price?

b$.$ What will happen to your percentage ownership of BAD$?$

c$.$ What will happen to the price of your shares of BAD$?$

d$.$ Do you lose or gain from triggering the poison$$ pill? If you$$ lose, where does the loss go$($who benefits$)?$ If you$$ gain, from where does the gain come$($who loses$)?$