please do not use excel

Sweet Cola Corp. (SCC) is bidding to take over Salty Dog Pretzels (SDP). SCC has 3 million shares of stock outstanding at a price of $120 per share. SDP has 4 million shares outstanding at a price of $25 per share. Neither company has any debt, preferred stock, or any non-operating assets. SCC estimates that there are operating synergies if it acquires SDP. Specifically, SCC estimates that the value of the possible synergies is $45 million. 1. Determine the potential offer price range that SCC should consider. 2. Assume that SCC offers $30 cash per share. a. Determine the S-gains to SCC shareholders. b. Determine the $-gains to SDP shareholders. c. Determine the post-acquisition price of SCC's stock. 3. Assume that SCC offers 0.25 shares of SCC stock in exchange for each share of SDP stock. a. Determine the S-gains to SCC shareholders. b. Determine the $-gains to SDP shareholders. c. Determine the post-acquisition price of SCC's stock. 4. SCC is highly uncertain about the potential synergistic gains from this merger. Should SCC utilize the cash offer or the stock offer (explain)? Investors outside of SCC believe that SCC's management has over estimated the potential synergies of this acquisition. Rather than $45 million, the market place believes that the synergies that SCC will realize are closer to $15 million. 5. Re-do question 2 (all parts) assuming that SCC goes ahead with the $30 per share cash offer, but that the synergies are really only $15 million. Sweet Cola Corp. (SCC) is bidding to take over Salty Dog Pretzels (SDP). SCC has 3 million shares of stock outstanding at a price of $120 per share. SDP has 4 million shares outstanding at a price of $25 per share. Neither company has any debt, preferred stock, or any non-operating assets. SCC estimates that there are operating synergies if it acquires SDP. Specifically, SCC estimates that the value of the possible synergies is $45 million. 1. Determine the potential offer price range that SCC should consider. 2. Assume that SCC offers $30 cash per share. a. Determine the S-gains to SCC shareholders. b. Determine the $-gains to SDP shareholders. c. Determine the post-acquisition price of SCC's stock. 3. Assume that SCC offers 0.25 shares of SCC stock in exchange for each share of SDP stock. a. Determine the S-gains to SCC shareholders. b. Determine the $-gains to SDP shareholders. c. Determine the post-acquisition price of SCC's stock. 4. SCC is highly uncertain about the potential synergistic gains from this merger. Should SCC utilize the cash offer or the stock offer (explain)? Investors outside of SCC believe that SCC's management has over estimated the potential synergies of this acquisition. Rather than $45 million, the market place believes that the synergies that SCC will realize are closer to $15 million. 5. Re-do question 2 (all parts) assuming that SCC goes ahead with the $30 per share cash offer, but that the synergies are really only $15 million