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The NFF Corporation has announced plans to acquire LE CorporationNFF is trading for $ 5 5 . 0 0 per share, and LE is trading

The NFF Corporation has announced plans to acquire LE CorporationNFF is trading for $55.00 per share, and LE is trading for $27.00 per share, implying a premerger value of LE of approximately $6.01 billion. If the projected synergies are $1.19 billion, what is the maximum exchange ratio NFF could offer in a stock swap and still generate a positive NPV? The maximum exchange ratio is (Round to three decimal places.)

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