new rbs research, page-6

I just love reading research from a brokerage house who,
a) Recommends the deal.
b) Talks up the previous mngt team even though they have screwed up big time in this process.
c) Revises down their previous price targets massively and then tell us all that is a great deal for shareholders.
d) Then to top it all off they are the advisers to the company and probably the future advisers to the new company!!!
e) Putting a valuation on SEA at $1.15 when the stock is not over $1 and trying to sell us on the $1.15 price as the correct point is just bullshit and stinks of somebody trying to justify the deal to get their success fee.
f) I wish the research just said - TXN shareholders have SFA choice in this process due to asset being worth nowhere near what the board and advisers lead us to believe.

I'll except the deal purely because TXN directors screwed us all over by tell us that the sale process was on track and they weren't a distressed seller. I have very little faith in Talon with the same board members as before.