Bellarmine Companies intends to acquire Claver Company by issuing shares to buy out Claver's. shareholders at the current market price. Synergies or other value creation is unlikely to occur due to the merger, however Bellarmine's management team expects the merger to lead to higher earnings per share for the combined company. Post-Merger Bellarmine 1,000,000 Earnings Shares Outstanding EPS P/E Share Price Market Value of Equity Bellarmine Companies 800,000 200,000 4.00 12.50 50.00 10,000,000 Claver Company 200,000 50,000 4.00 5.00 20.00 1,000,000 If the market is efficient, what is the expected P/E and share price of the combined company