On April 1st 2014, AqcuirerCo acquired TargetCo's 100% shares

Subject:FinancePrice:3.86 Bought8

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On April 1^st 2014, AqcuirerCo acquired TargetCo's 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 TargetCo's 100% basic shares. Assumptions are as shown below ($ in million, except per share data; shares in millions).

Offer Price Per Share$25

Acquirer Share Price$75

Acquirer Shares Exchanged 100

TargetCo's Debt $900

TargetCo's Preferred Stock $150

TargetCo's Minority Interest$350

TargetCo's Cash$200

TargetCo's Sales (2014:Q1 Reported Financial Statement)$1500

TargetCo's Sales (2013:Q4 Reported Financial Statement)$3750

TargetCo's Sales (2013:Q3 Reported Financial Statement) $3000

TargetCo's Sales (2013:Q2 Reported Financial Statement) $2000

TargetCo's Sales (2013:Q1 Reported Financial Statement) $1250

Tranches Number of Shares (mil) Exercise Price

#1 100 $26

#2 150 $28

#3 250 $32

What is the Enterprise value (EV) for TargetCo?