Comment by basch

If two $1B companies 'merge' and the surviving entity gives the acquired entity $1B in shares, it didnt 'cost' the acquiring entity anything.

Facebook's stock was up 20% later in the year after the acquisition.

Facebook was worth $134.2-139.2B end of 2013 and $217.5-218.5B end of 2014.

I would say it is misleading to say it cost them $15B in shares if the remaining shares FB kept ended up more valuable after the transaction.