In Denmark the company taxation is 25%, but it is very likely that a large part of the amount is a fine for doing it, although this is just a guess. Furthermor

In Denmark the company taxation is 25%, but it is very likely that a large part of the amount is a fine for doing it, although this is just a guess. Furthermore, when you value a company it could be that their assets are extremely high, but they at the same time have high liabilites. This (although I do not know if it was the case), could lead to a lower price for the company, than the market value of the product.