Anyone have a feeling as to what is going on here? Trying to follow along to learn more ... looks like Metis has offered all-cash for 20% premium on current share price but board is blocking. I think I am reading the phrasing incorrectly because I am not getting values that make sense here. At current prices of about 18.5 Xperi and 8.4 Tivo, I think the new company shares are at price a bit above 23.30.

Reuters quotes the cash buyout from Metis at 23.30 but that sounds like it is for Xperi shares. Are they writing this wrong? Did Reuters get this wrong? Probably me. https://uk.reuters.com/article/us-tivo-m-a-xperi-metis-ventures/xperi-receives-all-cash-buyout-offer-from-metis-ventures-idUKKCN20I0CN

Details of the deal here.

Under the terms of the merger agreement, the shares of TiVo and Xperi stockholders will be converted into the shares of the new parent company based on a fixed exchange ratio of 0.455 Xperi share per existing TiVo share. Upon completion of the merger, Xperi stockholders will own approximately 46.5% and TiVo stockholders will own approximately 53.5% of the new parent company on a fully diluted basis.



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