ACB Vs Liondiv

ACB has surge to 1.54 on 20/4/07. Why pay 1.54 for a Company without core assets ? If it's sorely due to Parkson Biz in Liondiv, why not we compare it as follow:-

A) If buy 1000 ACB at 1.54 = RM1,540. you get 250 Parkson shares after capital reduction of 4 to 1.

B) If you use RM1,540 to buy Liondiv at 8.55, you get 180 Liondiv shares. plus another 234 Parkson shares after the demerger exercise completed.

Same amount of money (1,540), in situation of A, you only have 250 Parkson shares.
In situation of B, you will get 180 liondiv shares + 234 Parkson shares.

Which one you will choose ? Don't forget the risk involve for ACB, because it's still a company without core biz now, if the demerger exercise fail, you get nothing !