You are right, they rarely pay such a premium.
This is an exception however as a hostile takeover is impossible. They won't get the requisite 50% of shares to control the board this way.
The only way to take over the company is to satisfy a close knit handful of insiders who have said that this is life changing technology and publicised life changing valuations.
That's why the premium can be massive, depending on the success of the chip and its potential uses.
4DS chart, page-2824
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