What was the stock price reaction for the target firm and the acquiring firm when the deal was first announced?

Write a synopsis of the transaction in paragraph form. At a minimum, your synopsis must address each of the below topics. A. Provide a summary of the target firm and acquiring firm involved in the transaction. B. Was the transaction a merger or a consolidation? Explain. C. Was the transaction a horizontal, vertical, or conglomerate acquisition? Explain. D. Was the transaction funded with cash, stock, or both? What was the total value of the acquisition (i.e. how much did it cost the acquiring firm)? Explain. We know how mergers affect the value of target firms and acquiring firms on average. Was this transaction consistent with the average change in values? Explain. F. Was the transaction friendly or hostile? Explain. If it was hostile, what takeover defenses did the target firm employ? Explain. G. What were the stated synergies that the acquisition was supposed to achieve? Classify each stated synergy as one or more of the following: marketing gains, strategic benefits, market power, economy of scale, economy of vertical integration, technology transfer, complementary resources, elimination of inefficient management, tax gains from net operating losses, tax gains from debt capacity, tax gains from surplus funds, and reduced capital requirements.

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