awb technical musings, page-2

OK, the merger could be a deal changer.

5.75:1 ratio of value GNC to AWB
15cps dividend payable on combined = 2.6cps for existing AWB holders when completed

Maybe 2 months away to completion? Regulatory and shareholder approvals.

If entering a long trade on AWB you might have a stop at say 97cents to preserve your capital. If this is a positive step, price should only increase from here - $1.00 being an important level to maintain for AWB.

The current offer fixes the value ratio of AWB to GNC. There is nothing to suggest GNC value to hold or improve any differently, unless institutions view this amalgamation as a postivie for both co.s going forward.

Arbitrage would be going on with this deal now for those entering and going long into the combined entity - hence the increased volume.

rgds,
pw