Barlow Manufacturing Has Announced Plans to Acquire Hull Enterprises

Multiple Choice

Barlow Manufacturing has announced plans to acquire Hull Enterprises.Barlow is trading for $31.50 per share and has a premerger value of $12 billion,while Hull is trading for $21.75 per share and has a premerger value of $4 billion dollars.If the projected synergies from the merger are $675 million,what is the maximum cash offer per share that Barlow could make and still generate a positive NPV?

A) $48.20
B) $21.75
C) $53.33
D) $25.42
E) $17.55