Fare value on step acquisition

Hello Sir,

I a confusion on which to account as a fare value of Berthold co in the time of the step acquisition.

As the model answers shows the fare value is The 40% of (10m shares x the current share price of $9.6) which is $36.8

But what about the fare value which was included in te question which said “A further 35% stake in Berthold Co was acquired on 1 December 20X8 for $41 million, when
the fair value of Berthold Co’s identifiable assets and liabilities was $55.3 million, and
Berthold Co’s retained earnings were $42.3 million.”

For what we can use this $55.3 fare value here?
The market share price should be considered the fare value okay.
But how can we distinguish between the fare fare value of the assets and liabilites and the market share price fare value.

Q
1 – Acquisition of Berthold Co
Sterling Co paid $25 million for 40% of Berthold Co’s 10 million $1 ordinary shares on
1 January 20X7 when Berthold Co’s retained earnings were $18 million. Berthold Co has no
other reserves. Sterling Co exercised significant influence over Berthold Co’s financial and
operating policy decisions.
A further 35% stake in Berthold Co was acquired on 1 December 20X8 for $41 million, when
the fair value of Berthold Co’s identifiable assets and liabilities was $55.3 million, and
Berthold Co’s retained earnings were $42.3 million. The difference between the fair value of
the identifiable assets and liabilities of Berthold Co and their carrying amounts related to
non-depreciable land. The market price of Berthold Co’s shares immediately prior to
1 December 20X8 was $9.20 per share. Sterling Co measures non-controlling interest at fair
value at the date of acquisition. Goodwill at 31 March 20X9 is not impaired.
Berthold Co reported a profit for the year ended 31 March 20X9 of $11.1 million.

Thanks.