Corox is a chemical manufacturing company, planning to acquire a competing firm Grad. The analyst has estimated that Coroxs standalone value is $562 million, and Grads standalone value is $312. The analyst also thinks that Grad is not performing at par with industry peers due to poor management. With a new management team and appropriate restructuring, Grads value is estimated to be able to increase by $50 million. Finally, the analyst estimates the value of the two companies after acquisition to be $1.2 billion, assuming Corox has successfully restructured Grad. Based on these estimates, what should be the analysts estimated value of synergy between Corox and Grad?

	a.	$276 million
	b.	$50 million
	c.	Not enough information