MEP or ADN, page-600

A takeover very seldom occurs unless it is endorsed by the BOD of the company being taken over.
The BOD will get an independent valuation so as to ascertain if the deal is FAIR and REASONABLE for the share holders .

If it was an all script takeover any rational independent examination of the assets of both companies would come up with a ratio of more than 1 share of ADN for 1 share of MEP .
Possibly 1.5 to 1 .
I am not sure if a ratio could be found to satisfy both groups of shareholders.

I don't see enough synergies in the deal to make it work and there are benefits in the joint venture too.
I think a takeover of MEP by ADN is very unlikely .

Time will tell.