yes logie they have got it completely wrong.
according to that logic the ev is 1.3/0.65 = $2 billion
but you have to seperate the equity from the debt
so the value is 409/0.65 + 803 = $1.432 billion
or 52% of what it was valued 2 months ago ($2.7 billion)
make no mistake this is the worst possible deal for shareholders. analysts expected stella would fetch $2bn at firesale prices. even UBS in its worse case scenario valued the equity in stella at $712 million.
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MFS
mfs limited
yes logie they have got it completely wrong.according to that...
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