Not quite sure how this one was so hard to parse. You don't split the market cap of a company? Really? If I have a company worth 1 billion dollars and split i

Not quite sure how this one was so hard to parse. You don't split the market cap of a company? Really? If I have a company worth 1 billion dollars and split it exactly down the middle in assets and liabilities, the assigned value of each company is nowhere near 500 million dollars? Yes you will lose a little bit in terms of "lost synergies", but the starting point for a split (or a merger) is to add together or divide up the market cap.