On April 1^st 2014, AqcuirerCo acquired TargetCos 100% shares. The M&A deal that took place between TargetCo and AcquirerCo with a Fixed Exchange Ratio Structure based on basic shares outstanding. According to the terms of the agreement, AcquirerCo delivered its 150 mil shares to TargetCo in exchange of TargetCos 100% basic shares. Assumptions are as shown below ($ in million, except per share data; shares in millions).

What is the Enterprise value (EV) for TargetCo?

1) 10,450

2) 12,2450

3) 11,450

4) 9450

$25 $75 100 $900 $150 $350 $200 $1500 Offer Price Per Share Acquirer Share Price Acquirer Shares Exchanged TargetCo's Debt TargetCo's Preferred Stock TargetCo's Minority Interest TargetCo's Cash TargetCo's Sales (2014:Q1 Reported Financial Statement) TargetCo's Sales (2013:Q4 Reported Financial Statement) TargetCo's Sales (2013:Q3 Reported Financial Statement) TargetCo's Sales (2013:Q2 Reported Financial Statement) TargetCo's Sales (2013:Q1 Reported Financial Statement) Tranches Number of Shares (mil) Exercise Price #1 100 $26 #2 150 $28 #3 250 $32 $3750 $3000 $2000 $1250 $25 $75 100 $900 $150 $350 $200 $1500 Offer Price Per Share Acquirer Share Price Acquirer Shares Exchanged TargetCo's Debt TargetCo's Preferred Stock TargetCo's Minority Interest TargetCo's Cash TargetCo's Sales (2014:Q1 Reported Financial Statement) TargetCo's Sales (2013:Q4 Reported Financial Statement) TargetCo's Sales (2013:Q3 Reported Financial Statement) TargetCo's Sales (2013:Q2 Reported Financial Statement) TargetCo's Sales (2013:Q1 Reported Financial Statement) Tranches Number of Shares (mil) Exercise Price #1 100 $26 #2 150 $28 #3 250 $32 $3750 $3000 $2000 $1250