ACB shareholders are entitled to 1 LOT share for every 3.54 ACB...

ACB shareholders are entitled to 1 LOT share for every 3.54 ACB shares. There is another option that they can opt out by asking for cash payment. The cash payment is LOT share price at the time of merge divide by 3.54. If the share price overshoot, LOT would have forked out more cash for those who would like cash rather than shares. I believe more ACB shareholders would choose cash in that case, which would cause liquidity issue for LOT. Therefore, it is very reasonable for LOT to keep its share price low prior to the merge so most of ACB shareholders will choose LOT shares rather than cash.