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	12. SYNERGY ANALYSIS
	($ in millions)
		FY2026E	FY2027E	FY2028E	FY2029E	FY2030E
	REVENUE SYNERGIES
	Run-Rate Revenue Synergies ($mm)	$150	$200	$250	$300	$300
	Phase-In (%)	$0	$1	$1	$1	$1
	Net Revenue Synergies	$38	$100	$188	$300	$300
	COST SYNERGIES
	Headcount Reduction Savings	$80	$120	$150	$150	$150
	Facilities Consolidation	$20	$40	$60	$60	$60
	IT Systems Integration	$10	$25	$40	$40	$40
	Procurement Savings	$15	$30	$50	$50	$50
	Total Cost Synergies (Run-Rate)	$125	$215	$300	$300	$300
	Allocated to COGS Reduction	$50	$86	$120	$120	$120
	Allocated to SG&A Reduction	$75	$129	$180	$180	$180
	TOTAL SYNERGIES SUMMARY
	Total Revenue Synergies	$38	$100	$188	$300	$300
	Total Cost Synergies	$125	$215	$300	$300	$300
	Total Synergies	$163	$315	$488	$600	$600
	Pre-Tax Synergy Impact	$163	$315	$488	$600	$600
	After-Tax Synergy Impact	$122	$236	$366	$450	$450
	Note: Synergy estimates are illustrative. Revenue synergies phase-in over 3–4 years. Cost synergies 40% COGS / 60% SG&A allocation.