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Apple Inc. is contemplating the acquisition of Blackberry Ltd. Information for the two companies is given in the table below. Blackberry has many patents that

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Apple Inc. is contemplating the acquisition of Blackberry Ltd. Information for the two companies is given in the table below. Blackberry has many patents that would be valuable to Apple. Apple executives estimate that the present value of synergies is equal to $5.5 billion of additional value. Use this information to answer the question that follows. $0 Apple Value of Debt Market Value of Firm, VU ($B) $500 Shares Outstanding 860M Stock Price $581 Blackberry $0 $4.25 500M $8.00 What is the NPV (in billion dollars) from the acquisition to Apple shareholders if Apple offers Blackberry shareholders $5.70 per share and 0.02 shares in the merged form for each of their Blackberry shares? Make your answer (in millions) accurate to two decimal places. That is, if your answer is 14.256 million, write 14.26

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