RE:An interesting calculation.First of all it's not 50% discount. Your're talking about current market value. You're comparing apples to oranges and made it sounds worse than it is. No one knows what the current market value of HCG would be now if BH didnt step in. Shorts were calling for zero and spreading all sorts of rumors to make it happen. Again trying to mislead with semi-accurate info. At the time of the deal the first tranche is a 15% discount. Obviously, when a solid company is struggling because of false rumor someone smart is going to step in and ask for a premium for the service.
The second tranche is subject to shareholders approval.
"Each common share will be issued at $9.55 per common share, which equals a 15 per cent discount to the five-day volume-weighted average price of the shares on the Toronto Stock Exchange as of June 13 when Bershire Hathaway, the firm led by famous American investor Warren Buffett, made its final proposal to the company."
https://www.macleans.ca/news/berkshire-hathaway-buys-into-home-capital/