An acquirer bought 100% of the equity capital of a target company for 129m.

The acquirer also intends to refinance the debt of the target as part of the deal.

The transaction was funded by 5.0m of balance sheet cash, an equity issuance with a value of 60.0 and the remainder with new debt.

Calculate the goodwill on the consolidated balance sheet using the information below.

	Acquirer	Target
Cash	9.0	7.0
Operating current assets	157.0	179.0
PP&E	426.0	241.0
Intangibles	268.0	76.0
Goodwill	12.0	20.0
Total assets	872.0	523.0
Short term debt	29.0	13.0
Operating current liabilities	291.0	112.0
Long term debt	357.0	224.0
Operating long term liabilities	49.0	45.0
Total liabilities	726.0	394.0
Common stock	32.0	54.0
Retained earnings	114.0	75.0
Total equity	146.0	129.0
Total liabilities and equity	872.0	523.0

Select one:

141.0

44.0

20.0

32.0