So OGN Organon just spin off today and its trading something like 4-5% of MRK market cap based on stock outstanding calculated as ($36*253 mil OGN shares / ($36*253 mil shares + $74*2.53bil MRK shares)
which is seriously undervalued considering they're going to grab $6.52 billion estimated 2021 sales even if those sales are going down 20% and etc based on their 2020 annual sales decline. But the main issue is OGN is issuing $9bil cash payment to MRK which is like a cash dividend and if you subtract 9 billion from the $36*253 mil you end up with market cap of OGN at $340Mil ? is this math right? then OGN market cap should be worth about 0.15-0.2% of MRK market cap? which is seriously like fraud? am i misunderstanding something on the math or their sec filings?
Submitted June 04, 2021 at 02:15AM by indicatorform https://ift.tt/3ihCH4o
