The following information relates to the acquisition of M plc by D plc: Recent dividend of M plc:                           20p per share Expected dividend growth of M plc:          3% per year Cost of equity of D plc:                                10% Number of shares of D plc:                        20 million Cost of equity of M plc:                               8% Number of shares of M plc:                        15 million What is the market value suggested by the dividend valuation model

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