If you pay no premium to buy Target Co, what will your earnings per share be after the merger?

Your earnings per share after the merger will be equal to your holdings of Target Co’s common shares multiplied by the number of common shares you hold, plus any additional cash payments promised during the merger. For example, if you have 10 shares of Target Company and no additional cash payments are promised at the time of the merger, then your earnings per share would be 10 times whatever Target Company’s current stock price is.