Xerox made an offer to buy HP in a merger where Xerox will be the surviving corporation.

I want to find out how to answer these questions based on an article I read about the offer from xerox.

I will copy and paste the article. Thanks for any help!

• Xerox offers HP $22 a share in takeover bid, sources say.
• Xerox offer comprised of 77% cash and 23% stock, sources say.
• HP announced last month that it will cut between 7,000 and 9,000 jobs by the end of fiscal 2022 as part of a broader restructuring plan to save cash.

Xeroxhas offeredHP$22 per share in its takeover bid for the company, sources familiar with the deal tell CNBC'sDavid Faber.

Sources also said the bid consists of 77% cash and 23% stock, or $17 in cash and 0.137 Xerox share for each HP share. The deal, if accepted, is expected to generate about $2 billion in cost synergies and result in HP holders owning 48% of the company, the sources said.

Nearly a month ago on Oct. 10, HP closed at $16.03. The offer represents a 37% gain from that low. The shares traded on Thursday at $19.61, below the offer price as investors have their doubts the deal will go through. Concerns about the tie-up largely stem from the wide size disparity between HP and Xerox. HP, worth $29 billion, is more than three times the size of Xerox in terms of market cap.

At the close, the combination would leave the company five times levered and three times levered within 24 months, though the tie-up is expected to leave its debt investment grade.

The new figures follow reports earlier in the week thatthe two companies were in talks to combine. HP on Wednesday confirmed it has held talks with Xerox, which makes printers and copiers, about a possible deal.

"We have considered, among other things, what would be required to merit a transaction. Most recently, we received a proposal transmitted yesterday," the company said in a statement. "We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye towards what is in the best interest of all our shareholders."

HP announced last month that it willcut between 7,000 and 9,000 jobsby the end of fiscal 2022 as part of a broader restructuring plan to save cash. The company was created after Hewlett-Packard separated its enterprise business Hewlett Packard Enterprise that sells data storage equipment, servers and other related services.

Evaluate the known details of the proposed takeover and answer the following:

(a) Show how HP shareholders will own 48% of the new company

(b) How much cash is required for Xerox to complete the deal and where is Xerox getting the money?

(c) What are synergies for the deal (as explained by Xerox)?

(d) Give an estimate of the combined free cash flows of the two companies: before the merger (no synergies) and after the merger (with synergies)

(e) what is the estimated debt/equity ratio of the combined company after the merger?