Totally confused.NHR will transfer of its rental business to a...

Totally confused.

NHR will transfer of its rental business to a ne Ned Group for $282m and $57m cash. Total $339m.

Actually it valued NHR at $282-57=$225m.

So pretty much the share price will stay as it is.

Carlyle will contribute $339m cash. The rest are debt.

The only difference is NHR will bearing much big risk then ever before since they will borrow $2.2b to fund the takeover of COA.

So the new Ned Group is worth $3/share. What is the conversion rate between NHR and the New Ned?