RE:MEG s/h are up 20%+, PXX s/h are down 8%Pablo, I agree. As per the link below, "since the exchange ratio is fixed, the number of shares the acquirer must issue is known, but the dollar value of the deal is uncertain,"
This means, without a dollar value attached, PXX assets are taken for nothing. Further, I ran my own financial model and my new shares, post-merger, will include diluted ownership to the tune of being cut in half. The only value I see that will be created is if IPC stock rises in the future.....the point being, there is no premium, and PXX assets are being taken for nothing!
https://www.wallstreetprep.com/knowledge/exchange-ratios-ma-fixed-vs-floating-exchange-ratios-collars-caps/