55% of old S shares receive $7.30 cash per share. This works out to $12.14B. Then the remaining 45% of old S shares covert into 30% of "new" S shares at a nominal $5.25 valuation (or whatever the market price is on the coversion date).
If a present shareholder accepts the above split, he/she would net a $6.38 valuation when the cash component is considered with the new S stock we'll receive.
I tried to supply a link to the company website so you could find further in-depth discussion of the deal, but this new "improved" message board didn't allow it. The date of the 8k is 10/15/12, I believe.