Greentree Holdings Has Announced Plans to Acquire Mackinac Corporation

Multiple Choice

Greentree Holdings has announced plans to acquire Mackinac Corporation.Greentree is trading for $15 per share and has a premerger value of $950 million,while Mackinac is trading for $25 per share and has a premerger value of $225 million dollars.If Greentree's maximum offer is 2.25 shares for each Mackinac share,what are the projected synergies from the merger?

A) $112.5 million
B) $45 million
C) $78.75 million
D) $225 million
E) $75 million