M&A math doesn't make sense - Please help! Any finance guru?!
Chicken Soup acquired Redbox last Wednesday and the target was valued at around $32M (equity value). But, something I do not understand is why the target market cap is still around $125M--simply doesn't make sense.
The exchange ratio of 0.087 should drop the target share price to $0.68 but still hovering around $2.7
Please enlighten me!
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