Acquirer (ACQ) and Target (TAR) enter into merger agreement and make the following announcement: ACQ will acquire 100% of the equity of TAR in an all-stock purchase The purchase consideration is valued at $5 billion based on the pre-announcement stock purchase of ACQ at $50 a share. The announced purchase consideration is a 25% premium for the TAR equity. ACQ will also assume the entire pre-merger debt of $1 billion of TAR. ACQ also has $2 billion of its own pre-merger debt. After the merger, original ACQ stockholders will be hold 66.67% of the equity in NewCo equity and the original TAR stockholders will own 33,33% equity stake in NewCo. . Prior to the merger there are 200 million ACQ shares and there are 200 million TAR shares. Synergy generated in the merger = $3 billion, . . What percentage of the total synergies do the original ACQ stockholders get