saturdays afr article..., page-16

Hi TP,
Might sound a silly question, but what does take over premium % 860 means. Does it mean takeover price of 0.365X8.6=$3.13. i am actually happy with even $1.50

"Company: Centro Properties Group
Industry: Real Estate
Shares (millions): 845
Market cap ($m) (1): 401
Pretax funding cost of equity ($m) (2)=(1) *8.5%: 34
FY09e pretax earnings after interest costs (4m) (3): 328
Takeover premium payable (%) (4)=(3)/(2)-1: 860 "