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DewDiligence

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Re: ronpopeil post# 238816

Thursday, 02/23/2023 2:54:03 PM

Thursday, February 23, 2023 2:54:03 PM

Post# of 257580
MEIP acquires INFI in all-stock deal:

https://finance.yahoo.com/news/mei-pharma-infinity-pharmaceuticals-announce-120000199.html

Curiously, the exchange ratio is not disclosed in the PR or in any SEC filings that have been filed yet. However, based on the post-deal equity split of 58/42 in favor of MEIP, I estimate that the buyout consideration is a 30% discount to INFI’s closing price yesterday.

Both stocks are down today, but the selloff in INFI is especially steep. The mindset seems to be that you cannot make an eagle out of two turkeys.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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