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4. Based on Icalm's valuation (i.e., the valuation implied by his purchase price), which you calculated above, how many shares of MEG should Perelman receive

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4. Based on Icalm's valuation (i.e., the valuation implied by his purchase price), which you calculated above, how many shares of MEG should Perelman receive for a $365M investment of new capital? Assuming the valuation implied by Icahn's purchases equals the true value of Ix/ILEG, what is the difference in the value of Icahn's position if Perelman is allowed to purchase 427W shares for his $365M versus the number of shares you just calculated

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