8. A wants to acquire T for a price that will split the synergy value equally between the two firms. A has a market value of $1 billion and 10 million shares outstanding. T has a market value of $400 million, and 20 million shares outstanding. The synergy value is $200 million. The payment will be 50% in cash and 50% in shares of A. How many shares of A will be offered for each share of T?

Multiple Choice

0.1136

0.1544

0.1624

1.8544

None of the above.