Indeed, seems very undervalued. However, a couple of uncertainties prevent me from making it a large position.
The deal is subject to adjustments such as working capital adjustments. Each 1m USD change is very significant on the value / share.
They also haven't explained to the public what they will do next. Will they return the cash to shareholders?
Anyway, the risk reward is very good here. Downside is not fully protected IMO.
News 
Market Data 
Discover 
