Bavarian-Bavarian Merger Bavarian Brew Is Planning on Acquiring Bavarian Sausage in a in a Pure

Bavarian-Bavarian Merger
Bavarian Brew is planning on acquiring Bavarian Sausage in a pure exchange merger. Bavarian Brew's stock is currently trading at $45 and they set the exchange ratio at 1.80. Bavarian Sausage has 75 million shares outstanding which are currently trading at $23 a share.
Twelve months after the merger Bavarian Brew's stock price drops to $37.
-After the drop in the stock price for Bavarian Brew,what is the control premium?

A) 252.0%
B) 189.6%
C) 52.6%
D) 124.4%