1 HIP = .033 of CMED based on HIP, CMED worth $89 per share? Using these valuations, CMED is worth 2.95/0.033= $89 per share for CMED
Using the ACB valuations at 4.53 ACB shares per CMED shares, that parnership sees a $13.69*4.53= $62 valuation per share for CMED
It's unfortunate the bid by Aurora was capped at $24, it's really holding back CMED. For now.
Based on peer acquisition metrics, it appears CMED should be at $62-$89 per share.
This support the thesis that CMED share prices is being held back?
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Globe/CP say CanniMed sees Aurora bid limiting gain
2018-01-04 07:45 ET - In the News
Also In the News (C-ACB) Aurora Cannabis Inc
Also In the News (C-HIP) Newstrike Resources Ltd
The Globe and Mail reports in its Thursday, Jan. 4, edition that CanniMed Therapeutics ($26.13) recommends shareholders reject Aurora Cannabis's ($2.36) hostile takeover bid. A Canadian Press dispatch to The Globe reports that CanniMed says its shares are trading above Aurora's offer of $24 and would likely be higher if it were not for the all-stock hostile bid. CanniMed says Aurora is offering shares that were worth only half as much just two weeks before its hostile bid was announced last fall and that it is inferior to its own proposed acquisition of Tragically Hip-backed Newstrike Resources (93 cents). CanniMed says: "The combination of CanniMed and Newstrike creates a major player across the Canadian recreational and global medical markets and will be valued as such. We see a clear path to $37 per CanniMed share -- or more." Aurora formally launched its hostile takeover bid for CanniMed in late November on the condition that CanniMed cancel its own planned acquisition and says its offer will remain on the table until March 9.