starting from the very basics, just putting stuff down while I've got the scratch paper in front of me.....
using the last quarterlies.... for pro forma shares of GZSP, I come out to 34.5 million shares of the new entity. Using the "weighted" shares of GZTR, I come out with 32.6 million shares. The higher number has to be closest, if not dead on, so their must be more shares out than the weighted figure (duh!).
Using the closing capitalizations from Friday and the 34.5 figure, that would be about $29/share for GZBS.
Using $37, the capitalization of BXM would be about $851 million. The 52 week high would give about $1.035 billion, roughly equal to the combined capitalizations at the close on Friday.
If anyone comes up with a markedly different figures, please feel free to tell me I'm a jerk..... only had a few minutes to think about it, and just trying to get things rolling.
$245 million is about $10.65 per share of BXM.
Was anyone watching the trading Friday? Any of the usual suspect MMs trading on the bid side? What's known about who is short?
Bizarre deal, huh? Lots of op here to make money. If anyone figure out the "how?" part, please speak up. |
