The equity owners of Mondo Cult Inc. are considering purchasing Pulpless.com

Inc, a small online bookstore. Mondo’s analysts believe that the merger will result in incremental free flows and tax savings with a combined net present value of $470 million. Pulpless has 2 million shares outstanding and zero debt. Pulpless’s current stock price is $6.24. What is the maximum price per share that Mondo should offer?

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