Subject: Re: BN and BAM valuations
For a shareholder of the old BAM the value on 12/9/22 was $45.13/share, and the value at the open on 12/12/22 of one share of BN plus 0.25 shares of BAM was $36.15 plus 0.25*#32.14 = $44.18, very slightly less than the value of one share of the old BAM on 12/9/22, so that seems right.