I'm confused as well.
The press release says that for each EGEI share, we get $0.65 plus 0.0416 shares of QGEN.
Supposedly, the number of outstanding EGEI shares is 18.21 million. Also, the press release says that, based on the average price of QGEN in the past 20 days, the deal would be about $34 million. However, if I use the 18.21M number and $18 for a QGEN share (which is on the high side), I get the following:
18,210,000 x (0.65 + (0.0416 x 18.00)) = 25,472,148.
So instead of $34M, I get about $25.5M. Did I calculate something incorrectly? Do I have the number of outstanding shares wrong? Or is there other cash (such as for debt) being paid in the deal?
At any rate, the price at the merger time will depend on QGEN's price. Currently at $18, that's about .65 + .75, or $1.40.
QGEN will announce earnings soon (early May?), so hopefully it will have good news that raises the QGEN price, subsequently increasing the future EGEI price.
We may also learn more from eGene's annual report (10-K) which should be released soon.
Good luck.
