Exchange ratio announced as 0.2788.
At the latest closing prices (MLT 16.9, CHO 4.9), each CHO share will be exchanged for 0.2788 x $16.90 = $4.71 worth of MLT shares. This translates to a 4% loss on the transaction.
I'm predicting this discrepancy will narrow as we get closer to the date of the merger.
Any thoughts?