Corporate Finance M&A doubt on P/E ratios..help

CFA Level II Corporate Finance
#1

Hey Guys!

  1. Just wanted to know when a High P/E company acquires a Low P/E company it leads to a temporary increase in EPS of the combined company as the exchange share ratio is less 1 correct?

  2. But it could also be that company A acquiring company B where A has a P/E of 20 and Earning of 10 which makes share price 200 and company B has a P/E of 15 and earnings of 15 which makes shares price 225…so here the merger should be dilutive for A right as it has to give up 1.125 share of A for acquiring 1 of B (225/200)…?