medium · Principles of Finance valuation

Acquirer A (EPS = 5.00, P/E = 20x) buys Target T (EPS = 5.00, P/E = 15x) in a 100% stock-for-stock deal at a 20% premium. Acquirer has 100 million shares; Target has 20 million shares.

Is the deal accretive or dilutive?

  1. Accretive
  2. Dilutive
  3. Cannot be determined without synergy values
  4. Neutral (No impact)

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