mfs preopen, page-15

Zman buddy,
There is or was certainly some dunping going on. When the funds decide to quit a stock it is often just pushed through 'til its all gone.
I notice a couple of funds have said they are now right out of MFS. But today some might have got back in - it's a complicated merger indeed, and no clear details yet.
From what we can glean, seems they only have 225m new CIY shares to divide amongst the 340m MFS shares - thats about 2/3 of a CIY share for every MFS share. Plus the MFS holders should get another share for the Stella part that CIY are not taking. The CIY entitlement part is discounted for the $500m debt the MFS funds part has. But thats only the first stage of negotiation so a better deal might emerge. The brokers are saying MFS is worth more and so should get more of the merged co. - we will see.
Btw the 500,000 director's shares sold were quite a small part of the day's turnover which was about 14m as I recall.
Cya