this is madness, page-10

The Deloitte in the independent report values Yancoal between 3.95 and 4.65, which is too optimistic. However, at this price, there is only 0.8 at risk, within 18 months. If Yancoal trades at 0.8, it implies the combined company has a market cap around $700M, lower than the current market cap of Gcl, this is just crazy.

When an opportunity is too good to be true, it usually is. But I really can't find a reasonable answer to the market behavior towards this acquisition deal.