Questions 6-8 are based one the following excerpt from Chicago Tribune (May 9, 2016) Tribune Publishing's board has adopted a shareholder rights plan to defend itself against Gannett's unsolicited bid to buy the Chicago-based newspaper company The publisher of the Chicago Tribune, the Los Angeles Times and other papers said Monday the plan, commonly known as a "poison pill," would kick in if a group buys more than 20 percent of Tribune Publishing's shares or begins a tender offer to seek a 20 percent stake from existing shareholders When the plan is triggered, existing shareholders, other than an acquiring entity, could buy preferred shares at a substantial discount, thereby diluting the stake of any acquiring company and making a takeover more expensive. The plan expires in a year. Tribune Publishing's adoption of the defense, widely used in hostile takeover battles, follows its formal rejection last week of Gannett's April 12 offer of $12.25 a share to acquire the company in a deal that was valued at $815 million, including the assumption of $390 million in debt 6. What was Gannett's offer price per share to Tribune in April 2016? QUESTION 7 7 What was the number of shares (in milions) at Tribune? QUESTION 8 8 What is the triggering percentage that the poison pill would be activated? (in percentage)