Based on current share prices Biota looks to be the better entry...

Based on current share prices Biota looks to be the better entry into the new entity. Biota appears to be priced at a significant discount to Nabi in terms of entry into the new entity.

For example Nabi currently sells at around $1.75 and is to announce a cash dividend of between $0.99 and $1.10 in the next day. Using $1.10 it has a residual value of $0.65, which when consolidated on a 1 for 6 basis into the new entity equals 10.84 cents.

On the other hand Biota sells at $0.63 and will consolidate into new shares in the ratio of 0.125, which equals 7.88 cents.

Have ignored the exchange rate but is close enough to parity to make little difference.