How was this merger conversion ratio reached?

As an Omnicom shareholder, I have been closely following the announcement of their likely eventual merger with Publicus. The announcement revealed that Omnicom shareholders will receive 0.813 newly issued ordinary shares of Publicis Omnicom Group for each Omnicom share they own (in addition to a $2/share dividend). I'm assuming .813 is the conversion ratio. My question is: how did they arrive at this ratio?
Thank you for your assistance.

5 Comments
 

That's what I assumed, but the calculation: PUB 224 mil. divided by OMC 270 mil = .829 (not quite .813)

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