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DewDiligence

07/18/08 9:29 AM

#5 RE: surf1944 #4

>Based on Barr's 108.1 million shares outstanding at April 28, the deal is valued at $7.19 billion before assumed debt. In a statement, the companies valued the deal at $7.46 billion before debt.<

The discrepancy stems from BRL’s employee stock options that become in-the-money at the buyout price.