l think all companies are valued by dividing net profit by...

l think all companies are valued by dividing net profit by number of shares on issue. Then multiply earnings per share times an industry standard PE multiple. SLR shares are 930 million times the conversion ratio of 3.4. Total number of Red shares is 2.2 billion plus the 1.5 billion allocated to purchase SLR. Total number of shares is about 5.2 billion in the merged entity l think. Divide net earnings of 445,000,000 by 5.2 billion and you get earnings of 8.6 cents per share. If you multiply that by the industry standard of 13, you still get a fair valuation of around $1.11. Stand to be corrected by someone else running the numbers.
PS. who ever does, dont forget to add a viable PE multiplier because thats how share prices are valued.