hi

Does anyone have Merant shares who chose to take the All Cash option.

According to the takeover terms - Merant shareholders will receive 136.5 pence in cash and 0.05 new Serena share for every Merant ordinary share held.

I had 660 shares in Merant so i should get :

(based on the date of the takeover announcement 04/03/04 an exchange rate of US$1.8488 to 1 pound and a price of $21.78 per share of Serena stock.)

660 * 136.5 = 900.90 (cash)
33 Serena shares @ $21.78 = $718.74 (388.76)
Total 1289.66

I dont understand how I only got 915.81 in cash for my shares.
Please can anyone help explain why?