Ann: DYL: Deep Yellow and Vimy Agree to a Proposed $658M Merger, page-48

I get it differently.

VMY @ 21cents- 30 day VWAP and current price of 27 c cents is a 22.2% increase

at 27 cents based on 1 DYL = 3.4 VMY

you are getting DYL @ 91.8 cents. It is trading at $1.03

so 11% discount.

I don't see any 42.4% premium

even if there was such premium, it is because VMY share price/market cap has struggled under the current board and recent managment changes and now with a stronger team it's worth more!