Dime Bancorp Inc (fka DIMEQ)

[jmbell42]

Hey Scott, if you divide your two numbers by one another you get the following:

Old Way (i.e the DIme Way) 1 LTW = $2.265
New way (i.e. the WaMu Way) = $2.017

2.265/2.017 ~ 1.1232 = Dime Exchange Ratio.

Basically, the numbers are different because the shares are treated differently through the Dime Exchange ratio and that is source of the discrepancy

I had actually ignored the Dime Exchange ratio before, so thanks for bringing that point up.

Best,

Jared

P.S. Don't forget that we have Tax Gross up and the extra $63 M (possibly) this also impacts the net payout.