Bidder MVBS$,N=10$

MVA

MVL

$300$

$300$

$450$

$450$

Target MVBS$,N=10$

$\backslash$table$[[$MVA MVL$,],[200,290],[190,100]]$

PV Synergies $=$$$200.$ Target has $$200$ undisclosed liabilities. Bidder offers an all$-$cash deal that gives target shareholders $75\%$ of the synergies. What is bidder's stock price after the merger is executed and the market learns about the hidden liabilities?