SIG - Sigma Healthcare

[divs4ever]

I need some clarification, so please tell me where I am wrong.

As I have said all along, I was confident that the merger would proceed.
However, I must be missing something because the part I just could not understand was the valuation per share after the merger.
The merged business is said to be worth around $7 billion which compares with EBOS which is about the same size with a market cap of $6.5 billion.

Let's say the value of the merged entity is a bit higher and worth $8 billion. After the merger there will be a total of 11.56 billion share on issue. Some will be in escrow for a couple of years, BUT 11.56 bil total.
If I divide the $8b mc by the 11.56 bil shares, I get 69 cents per share.
Going the other way, if I multiply the current share price by 11.56 billion I get a market cap of $28 billion which let's face it, is a tad high.

Can somebody tell me where I am wrong so I can kick myself for missing out on the 26% increase today.

View attachment 187497

the math never worked for me , so i hit the parachute as soon as i read the details of the merger deal .

if the holders are still in profit and happy , good for them , i crystallized an acceptable profit , so i am content